What is the fate of Dow Jones after reaching record levels?

DOW JONES

The Dow Jones Index is trending upward in the medium term, paving the way for price increases and the formation of new highs. However, if prices break below the 44,500$ area, a retest of the 43,900$ support area may occur.

The Dow Jones Industrial Average witnessed a notable rise of nearly 1%, closing at record-high levels. This surge was driven by several factors, most notably the improvement in risk appetite among investors due to positive economic data that bolstered expectations of the U.S. economy’s resilience. From a technical perspective, the index broke through a key resistance level at $44,500, reinforcing expectations of a continued upward trend in the short term. Price action demonstrated strong momentum alongside an increase in trading volume, indicating that buyers are still dominating the market. However, the new support level at $44,500 should be closely monitored, as any decline below this level could signal a potential correction.

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