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DOW remains supportive ahead of the FOMC meeting – DOW JONES Market Outlook – 28/07/2020

SquaredFinancial

Yet again, expectations that the central bank will remain supportive and a Republican stimulus proposal of $1 Trillion lifted equity indexes higher with a run in technology stocks overshadowing the decline in banking stocks. The latest 4H bearish candle favors further decline, with an hourly close below 26600 to provide further confirmation as we look towards 26400 and 26200 support targets.

Support: 26400/ 26600
Resistance: 26600 / 26785

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dow-remains-supportive-ahead-of-the-fomc-meeting-dow-jones-market-outlook-28-07-2020
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