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Given the positive follow-through from the successful closing above the BBI line, the index may rise higher.
See MoreThis is supported by a downtick in the RSI, which signals growing selling momentum.
See MoreWe expect the index to trade sideways in the near term due to the absence of domestic catalysts and uncertainty in the global market.
See MoreAt the close in NYSE, the Dow Jones Industrial Average added 0.67% to hit a new 1-month high, while the S&P 500 index climbed 0.76%, and the NASDAQ Composite index gained 0.71%.
See MoreAt the close in NYSE, the DJIA rose 0.59% to hit a new 1-month high, while the S&P 500 index added 0.22%, and the NASDAQ Composite index added 0.15%.
See MoreAt the close in NYSE, the DJIA added 0.65%, while the S&P 500 index climbed 1.07%, and the NASDAQ Composite index added 1.71%.
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