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The Dow Jones Industrial Average touched the first target outlined in the previous analysis, reaching as low as 43398.
Technical Outlook:
The index experienced a rebound from this level, but overall pressure remains. The simple moving averages continue to exert negative influence on the price, with momentary trading staying below the key resistance levels of 43690 and, crucially, 43710.
Bearish Scenario:
The prevailing bearish outlook remains valid. A decisive break below 43510 would support a continued decline, aiming first for 43435. If this level is breached, losses could extend further, with the next target at 43290.
Bullish Reversal:
Conversely, if the index successfully breaks above 43710 and holds above it, the bearish trend could be negated. In that case, we could see an upward recovery, with potential targets at 43795 and 43945.
Warnings:
Geopolitical Tensions: High geopolitical risks could lead to unpredictable market scenarios, requiring careful consideration and risk management.
Risk Level: The current market conditions carry a high risk that may not align with expected returns.
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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