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DOW higher after record rebound in US Retail Sales – DOW JONES Market Outlook – 17/06/2020

SquaredFinancial

The Dow ended yesterday’s session in the green at 26,308 after monthly U.S retail sales registered a record rebound, the highest since the start of the survey in 1967, and amidst renewed Fed readiness for further stimulus. A mixed start of the trading session today as virus numbers surged in Florida and Texas, recording the highest single day jump in cases so far, as investors await Fed Powell’s second day testimony. Further upside momentum will only be possible upon clearing our resistance level at 26381 along with the 200 period SMA, while an hourly close below our support at 26551 will open the door towards lower prints.

Support: 26155 / 25797
Resistance: 26381 / 26785

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dow-higher-after-record-rebound-in-us-retail-sales-dow-jones-market-outlook-17-06-2020
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