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Dow Jones 30 and NASDAQ 100 Price Forecast February 23, 2018, Technical Analysis

Christopher Lewis

Dow Jones 30

The Dow Jones 30 has rallied significantly during the trading session on Thursday, breaking above the 25,000 handle again. It looks as if the market is trying to make a strong move to the upside, and I think that short-term pullback should be buying opportunities, and I think the given enough time people take advantage of that. Ultimately, I think that the market should continue to go to the 26,000 level above. The 24,500 level of course is supportive, based upon what we have seen during the day. I believe that if the US dollar starts to sell all, that will only continue to push this market to the upside.

NASDAQ 100

The NASDAQ 100 initially went sideways during the trading session on Thursday, before rallying off the 6700 level. That’s an area that has been supportive more than once, so I think that it’s only a matter of time before we go to the 6900 level above. If we can break above there, the market should then go to the 7000 handle, an area that I think will attract a lot of attention, and perhaps offer a lot of resistance. Longer-term, I think that we break above there, and therefore we may rally a bit, then pulled back several times to build up the necessary momentum to go higher. Once we break above 7000, that should free this market to go much higher. Shorting isn’t much of a thought at this point, as we see so much in the way of bullish pressure.

Dow Jones 30 and NASDAQ Index Video 23.02.18

NASDAQ 100 daily chart, February 23, 2018

This article was originally posted on FX Empire

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