From a technical perspective, the broader bias for the Dow Jones Index remains bullish, with hopes of lower borrowing costs keeping bears at bay.
The previous resistance area, now turned into support, and the 4-hour 50 Simple Moving Average (SMA) converging at 39,250 are limiting downside attempts for now. Below here, the next downside targets lie at the 39,000 level and the trendline support at 38,775.
On the upside, resistances at the 39,900 previous high and the 40,000 psychological level are likely to offer significant pushback for bulls
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