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Will the bulls be able to follow-through Friday’s reversal? – DOW JONES Market Outlook – 08/03/2021


Friday’s advance during the last few hours of the trading session was spectacular, with the Dow Jones Industrial Average surging from around 30760 to a little more than 31500 after a strong US jobs report, marking the first day of a new stock rally attempt after a damaging selloff in the days prior. Today the bulls will need a follow-through day to confirm the new rally attempt. The key support level going forward is the 200-period moving average around the 31400 level and an hourly close above 30720 is needed to trigger further upside.

Support: 31470 / 31400 / 31300
Resistance: 31600 / 31720

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://sc.squaredfinancial.com/learn/daily-market-outlook/will-the-bulls-be-able-to-follow-through-fridays-reversal-dow-jones-market-outlook-08-03-2021
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