DOWJONES
Dow Jones Index is trading around the resistance level of $44,500, and this area is likely to limit the pace of the upward movement during today’s trading.
|
Support |
43700 | 42900 | 42000 |
| Resistance | 44500 | 45000 |
– |
The Dow Jones Industrial Average witnessed a notable rise during today’s trading session, climbing by approximately 0.9% to close near the 44,500 level. This upward movement was supported by strong performance in defensive and industrial sectors, amid a decline in risk appetite for technology stocks. The rally is attributed to improved investor confidence, despite anticipation surrounding Federal Reserve decisions and ongoing global trade tensions, which prompted traders to redirect liquidity toward stable blue-chip stocks.
From a technical perspective, the index’s breakout above the resistance level around 44,500 points reinforces the likelihood of continued upward movement toward the 44,700 and 45,000 levels in the short term. On the other hand, the 43,700 level is considered a key support, and a break below it could weaken the positive momentum and bring back selling pressure. Therefore, the technical outlook remains bullish as long as the index maintains its position above this level, with markets closely watching upcoming economic developments in the next sessions.
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