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DOW jumped 2% amid vaccine optimism – DOW JONES Market Outlook – 15/07/2020

SquaredFinancial

The Dow ended yesterday’s session above the 200 period SMA on the daily chart, soaring by 2% on the back of promising initial safety vaccine trial results from Moderna where all patients formed antibodies. Increasing US-SINO geopolitical tensions took a backseat as Federal Reserve Governor Brainard called for sustained large scale asset purchases, which boosted risk on sentiment as we look for an hourly close above 27000 to open the door to higher prints.

Support: 26785 / 26600
Resistance: 27000 / 27175 / 27400

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dow-jumped-2-amid-vaccine-optimism-dow-jones-market-outlook-15-07-2020
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