DOWJONES
Dow Jones Index trades above support level at 49100$, with prices likely to retest resistance at 50000$; this outlook would be invalidated by a break below the aforementioned support level.
|
Support |
49100 | 48400 |
| Resistance | 50000 |
50500 |
The Dow Jones Industrial Average traded in a mixed but slightly negative environment following the U.S. Presidents’ Day holiday. Data showed that index futures declined by approximately 0.3% – 0.35% in the morning ahead of the market open, as the market faced pressure from ongoing concerns about the continued pullback in technology stocks and expectations of weekly declines for major indices after last week’s losses.
This comes amid a broader downturn in U.S. markets last week, with the Dow Jones slipping by around 1.2%, although the index remains close to record highs it recently surpassed, having crossed above the 50,000-point level for the first time not long ago.
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