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Renewed hopes of US Stimulus package boosted the DOW higher – DOW JONES Market Outlook – 09/10/2020

SquaredFinancial

The Dow ended yesterday’s session in the green, hitting our long entry resistance target at 28500 (now turned into support) after President Trump changed his mind, tweeting his support for a bigger package as House Speaker Pelosi expressed confidence in reaching an agreement on the amount of aid in new legislation with Treasury Secretary Mnuchin. Resurging Covid-19 cases is keeping higher prints under pressure, with an hourly close below 28500 support level to favor lower prints.

Support: 28500 / 28300
Resistance: 28750 /28900

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/renewed-hopes-of-us-stimulus-package-boosted-the-dow-higher-dow-jones-market-outlook-09-10-2020
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