Dow Jones 30 and NASDAQ 100 Price Forecast March 21, 2018, Technical Analysis
Dow Jones 30
The Dow Jones 30 was slightly positive during trading on Tuesday, reaching towards the 24,800 level. If we can break above there, the next target could be 25,000, but we have recently broken out of a symmetrical triangle to the downside, so there will of course be a bit of resistance between here and there, at roughly the 24,900 level, as it was the previous uptrend line. I think that the announcement coming out today will probably trump any technical analysis, so if we are looking at no more than 3 interest rate hikes for the rest of the year, we will probably see the Dow Jones 30 break above the 25,000 level again. On the other hand, if we get a clear signal that for our coming, this market will roll over.
Dow Jones 30 and NASDAQ Index Video 21.03.18
NASDAQ 100
The NASDAQ 100 has been choppy during Tuesday trading, as we continue to bounce from the 6050 level. I think this is a market that is waiting for the same announcement, as the 6900 level will offer short-term resistance, but the most important level will be the 7000 level. If we can break above that handle, then I think we go higher. Otherwise, we could turn around and reach towards the 6800 level. Again, this market will be influenced by the monetary policy statement, so it won’t be until late in the day that the market moves drastically all things being equal.
This article was originally posted on FX Empire
