The Dow Jones 30 recoups losses over new low jobless claims. Price action’s struggle near the top at 35630 suggests a lack of commitment for a new high.
The subsequent drop below the consolidation range (35200) has prompted short- term buyers to take the exit. However, an oversold RSI has drawn a buy-the-dips crowd.
After a bounce above 35150, the index will need to clear 35400 before the rally could resume. 34600 is critical support on the daily chart to keep the bullish bias valid.
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