Yahoo Finance Dow Jones 30 and NASDAQ 100 Price Forecast October 11, 2017, Technical Analysis
Dow Jones 30
The Dow Jones 30 initially tried to rally during the day on Tuesday but rolled over to test the 22,750 level. I believe that given enough time there is plenty of buying opportunities below, perhaps reaching towards the 22,850 level again. I think that the 24-hour exponential moving average should continue to find buyers attracted to it as well, as the Dow Jones 30 is attracting more money as money continues to go into industrials and financials both. Because of this, I think the Dow Jones 30 will continue to see plenty of opportunities to go higher. I don’t have any interest in shorting, the Dow Jones 30 is one of the more important indices that I am following right now, and probably one of the more reliable. I think stability will lead the way going forward in the rally.
Dow Jones 30 and NASDAQ Index Video 11.10.17
NASDAQ 100
The NASDAQ 100 initially tried to rally, but then fell towards the 6050-handle underneath. That is an area that is massively supportive, and I think that sooner or later the buyers will come back into the marketplace and start buying again. The 6080 handle above is resistance, but longer-term I think were to go looking towards the 6100 level above, and then possibly the 6200 level after that. We have recently broken out above the 6000 level, which set off a nice ascending triangle, which measures for moved to the 6200 level above. Obviously, we have seen a lot of bullish pressure, and now that we have built up enough momentum to break out again, it’s likely that the dips will be bought as it’s an obvious uptrend that continues and has been around for some time now. I have no interest in selling.
This article was originally posted on FX Empire
