Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Dow Jones Industrial Average was able to achieve the first target within the expected upward path, touching the first target located at 37795, recording its highest level of 38033.
On the technical side today, we tend to be positive in our trading, relying on the 50-day simple moving average continuing to provide a positive incentive, in addition to trading stability above the 37800 support level.
Therefore, the possibility of a rise is still present and effective, but with caution, knowing that confirming the breach of 38040 is a prerequisite for continuing the rise towards 38140, and breaching it increases and accelerates the strength of the daily upward trend, opening the way directly to visit 28250, and the gains may extend towards 38470.
From below, the return of trading stability below 37800 postpones the proposed scenario, and we witness a trading session that tends to be negative, with targets starting at 37590.
Warning: The level of risk is high amid continuing geopolitical tensions, and we may witness high price volatility.
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
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