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Downside momentum favored amid risk-off sentiment – DOW JONES Market Outlook – 22/06/2020

SquaredFinancial

The Dow hit our support target at 25,797 on Friday with bearish momentum persisting in early session today as our support turns into resistance with the index printing a lower high at 25,797 as investors remain skittish with COVID-19 hot-spots re-emerging in the U.S with Apple closing stores in four different states. A failure to print an hourly close above 25,797 will favor further downside with 25,506 and 25,227 as closest support targets.

Support: 25506/ 25227
Resistance: 25797/ 26155

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/downside-momentum-favored-amid-risk-off-sentiment-dow-jones-market-outlook-22-06-2020
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