Daily Technical Breakdown: Dow Jones jumps 3,000 points and breaks beyond 40,000 level

Dow Jones rebounds with a 7.87% increase

Following yesterday’s sudden announcement by U.S. president Donald Trump to pause the reciprocal tariffs for 90 days, U.S. stocks recorded huge gains. The Dow Jones Industrial Average rebounded from its lows and pushed back up beyond 3,000 points to recover all losses from this week.

The index is expected to maintain yesterday’s gains and head towards 41,500 levels to close the previous daily gap.

Nasdaq records its second best day in its history with more 12% increase

The Nasdaq index jumped a staggering 12% in a single day following Trump’s announcement. This marks the second best performing day in its history. The index pushed above the 19,000 levels and closed above the psychological level.

As the index fills the daily gap from last week, it is expected to see some resistance near 19,300 levels in today’s session.

Oil closes 7.23% higher as demand on the commodity is expected to increase

After a fluctuating session bringing the price of WTI barrels below $55, oil achieved massive gains closing at $62.05 at the end of the session.

After Brent fell to a low of $58.24 per barrel during yesterday’s session, prices went up again to close at $65.31 achieving 6.97% gain.

Early in today’s session, price fell as a correction, but it is expected to maintain its gains from previous session.