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Multiple vaccine news disrupted market sentiment – DOW JONES Market Outlook – 10/11/2020

SquaredFinancial

The Dow printed an all time high at 30097 as investors applauded Pfizer and BioNTech’s trial data which proved to be 90% effective in preventing infection, only to retrace below the 30000 mark as news of a Chinese front-runner vaccine (final stage trial) being halted in Brazil, offset overwhelming market optimism. Technically, failure to retrace below 28900 indicates strong bullish momentum, with 29280 and 29600 as closest resistance targets.

Support: 28900/ 28750
Resistance: 29180/29280 / 29600

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/multiple-vaccine-news-disrupted-market-sentiment-dow-jones-market-outlook-10-11-2020
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