Dow Jones 30 and NASDAQ 100 Price Forecast March 26, 2018, Technical Analysis

The US stock markets were initially negative during the trading session on Friday but bounced enough to turn around and show signs of life again. I think that the market will possibly bounce, but we have a weekend ahead of us that could feature a lot of headlines.·FX Empire
Christopher Lewis
Updated
0

Dow Jones 30

The Dow Jones 30 broke down initially during the trading session on Friday but found enough support just above the 23,600 level to turn around and form a hammer. The hammer is a very bullish sign, but there is a lot of headline risk out there over the weekend that could cause this market to break out or possibly break down. If the Chinese and Americans can come together with some type of conclusion to this trade war, that should send the Dow Jones 30 higher as this is highly sensitive to exports. Otherwise, if we get bad news it’s likely that we will break down below the 23,600 level and go looking towards the 23,000 level.

Dow Jones 30 and NASDAQ Index Video 26.03.18

NASDAQ 100

The NASDAQ 100 also fell during trading on Friday, but as we start getting close to the close, it looks as if buyers are stepping in. If we can break above the 6700 level, that’s a very bullish sign and it should send this market to the upside. Otherwise, we will probably fall to 6500. Just as the Dow Jones 30, the NASDAQ 100 will be hostage to whatever nonsense comes out of the mouths of politicians this weekend. Longer-term, I’m still bullish but I also recognize that this pullback was needed to begin with anyway, so this has been a great excuse to start selling off. I suspect that Monday will be a very interesting session.

This article was originally posted on FX Empire

More From FXEMPIRE:

Advertisement

Recommended Stories