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DOW might pullback before accelerating higher – DOW JONES Market Outlook – 28/08/2020

SquaredFinancial

The S&P registered yet another record close as the Dow printed higher after J.Powell unveiled the Feds new policy, shifting from hard inflation targeting to soft which lifted risk assets as equity indexes closed in the green. Bullish momentum is looking strong while a hammer candlestick close below our resistance at 28750 favors a pullback lower with 28500 as the closest support target. Failure to print below 28600 will confirm bullish momentum.

Support: 28500 / 28300
Resistance: 28750 /28900

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dow-might-pullback-before-accelerating-higher-dow-jones-market-outlook-28-08-2020
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