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DOW weighed down by stimulus deadlock – DOW JONES Market Outlook – 12/08/2020

SquaredFinancial

A late session selloff dragged the Dow down to our support level at 27700, after printing highs at 28161 on the back of optimism surrounding a Russian Covid-19 vaccine, only to be weighed down by a deadlock between Republicans and Democrats on state aid and the overall size of the stimulus program. Technicals favor higher prints today, after consolidating above our support with 28000 as closest resistance target.

Support: 27700 / 27550
Resistance: 28000 / 28150

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dow-weighed-down-by-stimulus-deadlock-dow-jones-market-outlook-12-08-2020
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