US 30 Recovers To Previous Peak

The Dow Jones rallies as investors look past macro concerns and focus on earnings instead.



The break above the supply zone around 35000 has prompted the bears to cover. The index then went on to recoup most losses from the September sell-off. With the short-side out of the picture, sentiment might have turned around.


35500 is a major resistance and a bullish breakout would resume the uptrend for new all-time highs. As the RSI suggests an overextension, 35050 is fresh support in case of retracement.


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