Dow Jones touches desired target 29/1/2025

The Dow Jones Industrial Average successfully reached the official target outlined in the previous report at 45,130, recording a high of 45,160 on the New York Stock Exchange.

Technical Outlook:

• The index maintains stability above the key support level of 44,725.
• Simple moving averages continue to provide a positive incentive, reinforcing the potential for further gains.
• Momentum remains supportive, suggesting a possible extension of the bullish trend.

Key Levels to Watch:

• Above 44,725: The bullish outlook remains intact, with 45,200 as the next target, followed by 45,380 if upside momentum persists.
• Below 44,720: A confirmed hourly close below this level could expose the index to downside risks, with 44,555 as a potential support zone.

Market Risks & Upcoming Data:

• High-impact economic events include the Federal Reserve’s interest rate decision, FOMC statement, and Fed Chair Powell’s press conference, alongside Canada’s rate decision and Bank of Canada policy statement.
• Expect heightened volatility across financial markets during these announcements.

Risk Warning: Market conditions remain uncertain amid ongoing geopolitical tensions, and all scenarios remain 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.

S1: 44785	R1: 45205
S2: 44555	R2: 45380
S3: 44370	R3: 45620