Noor Trends News, Technical Analysis, Educational Tools and Recommendations
An upward trend dominated the movements of the Dow Jones Industrial Average on Wall Street during yesterday’s US trading, gradually approaching the desired target at 42,635, recording its highest level at 42,598.
On the technical side today, we maintain a positive but cautious outlook, relying on the index continuing to receive positive signals from the Relative Strength Index, along with the 50-day simple moving average providing a positive incentive.
Therefore, the possibility of the upward trend continuing is valid, provided there is a clear breach of the 42,640 level, which would facilitate the move toward 42,740, with potential gains extending to 42,850.
We remind you that a return to stable trading below 42,450, and most importantly 42,400, would subject the index to temporary negative pressure, targeting 42,265 and 42,165 before attempts to rise again.
Warning: The risk level may be high and may not align with the expected return.
Warning: Today, we are awaiting high-impact economic data from the US economy, particularly the “Core Personal Consumption Expenditure Prices – Annual,” which may lead to high price volatility at the time of the news release.
Warning: The risk level is high amid ongoing geopolitical tensions, and all scenarios may be possible.
Disclaimer: Trading in CFDs carries inherent risks, and all scenarios are possible. This analysis is not investment advice but rather an interpretation of the current technical landscape for the Dow Jones Industrial Average.
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