DOWJONES
The Dow Jones Index is trading below the resistance zone at $42,700, and prices are likely to retest the support zone at $41,300. This scenario would be invalidated if the aforementioned resistance zone is breached to the upside.
|
Support |
41300 | 40000 | 37800 |
| Resistance | 42700 | 43850 |
– |
The Dow Jones Industrial Average witnessed a notable rise, closing at 42,519.64 points, marking a 0.5% increase from the previous session. This positive performance is attributed to strong gains in technology stocks, particularly in the semiconductor sector, with Nvidia leading the way after reclaiming a previous buy point, which contributed to the overall strength of the sector.
On the economic front, strong labor market data, including a better than expected job openings report, helped boost confidence in the U.S. economy. Additionally, positive expectations regarding trade negotiations with international partners especially following the postponement of certain tariffs helped ease investor concerns over trade tensions.
Overall, the Dow Jones’ performance in this session reflects relative stability after the market volatility seen in recent months, with improvements in both technical and economic indicators suggesting a potential upward trend in the near term.
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