Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Dow Jones Industrial Average on Wall Street experienced an upward trend as anticipated in the previous report, reaching the initial target at 38695 and reaching a high of 38795.
From a technical standpoint, a cautiously positive outlook is maintained, with attention to the Relative Strength Index (RSI) signaling positive momentum above the 50 midline. Additionally, support is provided by the 50-day simple moving average.
With daily trading holding above 38550, the bullish bias remains intact, targeting 38895. A breakthrough above this level would further bolster the upward momentum, potentially leading to a touch of 39020.
Conversely, a return to stability below 38550 could halt the upward movement and expose the index to strong negative pressure, with a downside target of 38320.
It’s essential to exercise caution given the high level of risk amidst ongoing geopolitical tensions, which may contribute to increased 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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