Dow Jones 30 Price Forecast – Dow Jones 30 Continues to See Upward Pressure

Dow Jones 30 Technical Analysis

The Dow Jones 30 was rather quiet in the early hours on Friday as we continue to see more of an upward trajectory in this market. After all, keep in mind that the Federal Reserve cutting 50 basis points on Thursday has sent the market straight up in the air. With all of this in mind, I think this remains a buy on the dip type of situation as the Dow Jones 30 will benefit directly from loose monetary policy or I should say loosening monetary policy.

As infrastructure gets built up and large corporations enjoy that cheap money that makes profits go quicker through the ceiling due to investment. I think you’ve got a situation where growth is on the table again for the bigger companies around the world. It’s also worth noting that the shooting star that had formed on Wednesday was broken through on Thursday as traders got over excited about the market.

That’s generally a very positive sign as the shooting star then shows resistance has been conquered. So, with all of this, I remain bullish. I think short-term pullbacks continue to be the way forward. The 41,500 level I think in the short term is going to end up being a major support level. We’ll just have to wait and see, but I don’t see anything that tells me that won’t be the case. This is a market that I think is a great harbinger of risk appetite going forward.

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