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Stimulus optimism triggers a risk-on sentiment – DOW JONES Market Outlook – 02/02/2021


The Dow Jones index recovered further and is now targeting the 30400 / 30500 resistance area after President Joe Biden invited Republicans to a meeting to discuss economic aid. Above this level lies the 200-period moving average which is the pivot point for short-term traders and if breached will indicate a bullish trend reversal higher. Looking ahead, investors will be watching negotiations in Washington over the $1.9 trillion economic aid package, which will be the main driver to focus on today in the absence of any other news. On the downside the major key support level remains the 30090 line while the 30400 and the 200-period SMA around 30600 to act as resistance levels on the upside.

Support: 30300/ 30235 / 30090
Resistance: 30400/ 30520

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/stimulus-optimism-triggers-a-risk-on-sentiment-dow-jones-market-outlook-02-02-2021
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