Stocks are likely to continue dropping today as inflation concerns are causing commodities to rise and bonds to fall with rising yields making equities look overvalued in comparison. The Dow Jones index is now back below near-term and long-term moving averages, on the hourly timeframe, forming a lower-highs-lower-lows bearish pattern, with 31300 and 31210 as next key support levels.
Support: 31300 / 31210
Resistance: 31475 / 31600
Risk Warning: 79% of retail CFD accounts lose money
This analysis is just part of a greater daily market report on 8+ of the hottest instruments and assets provided to all SquaredFinancial clients.
Disclaimer: This information is only for educational purposes and is not an investment recommendation. The information here has been created by SquaredFinancial. All examples and analysis used herein are of the personal opinions of SquaredFinancial. All examples and analysis are intended for these purposes and should not be considered as specific investment advice. The risk of loss in trading securities, options, futures, and forex can be substantial. Customers must consider all relevant risk factors including their own personal financial situation before trading.