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Short-term pullback is on the cards – DOW JONES Market Outlook – 08/01/2021

SquaredFinancial

The Dow attempted to reach our 31300 resistance target in early trade today after confirming a third daily close in the green, at all time highs, as investors focuses on further stimulus prospects and a peaceful transition of power, disregarding the ongoing surge in Covid-19 and a struggling labor market. Non-Farm Payrolls data to be released today with previous: 245K vs. consensus at 75K. Technically, a pullback towards 31050 is looking favorable as momentum stalls.

Support: 31050/ 30900
Resistance: 31300/ 31500

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/short-term-pullback-is-on-the-cards-dow-jones-market-outlook-08-01-2021
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