US indices rebounded following the US president’s announcing a ceasefire deal in the Middle East, which brought some optimism to the markets and among investors, positively impacting US markets in particular.
The Dow Jones Index rose at the start of this week by approximately 2.62%, reaching a new high above the 42,711 level, which represents the last lower high recorded by the market. A breakout above this level could indicate a shift in trend from bearish to bullish.
If the price pulls back to the 42,025.62 level, it would be considered a corrective move, with a possible upward rebound from that level aiming to target 42,719.99 and potentially continue the bullish trend in the long term.
However, if the price falls below the 41,755.45 level and a four-hour candle closes below it, the positive scenario mentioned above would be invalidated.
The Dow Jones Index rose at the start of this week by approximately 2.62%, reaching a new high above the 42,711 level, which represents the last lower high recorded by the market. A breakout above this level could indicate a shift in trend from bearish to bullish.
If the price pulls back to the 42,025.62 level, it would be considered a corrective move, with a possible upward rebound from that level aiming to target 42,719.99 and potentially continue the bullish trend in the long term.
However, if the price falls below the 41,755.45 level and a four-hour candle closes below it, the positive scenario mentioned above would be invalidated.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.