US30 spikes higher after Powell comments

10 lug 2019

US30US30USDDJI

Trade Idea

DOW30 - Intraday - We look to Buy at 26775 (stop at 26700)

Prices have continued the bearish move lower and resulted in 4 consecutive negative days.
Afternoon dips were bought into and follow through bullish momentum resulted in the market moving higher.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
A bullish hammer has been posted as prices reject the lower levels. Further upside is expected although we prefer to set longs at our bespoke support levels at 26775, resulting in improved risk/reward.

Our profit targets will be 26975 and 27100

Resistance: 26900 / 26975 / 27100
Support: 26775 / 26650 / 26500