Dow Jones 30 and NASDAQ 100 Price Forecast August 23, 2017, Technical Analysis

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Updated: Aug 23, 2017, 04:35 GMT+00:00

Dow Jones 30 The Dow Jones 30 was relatively quiet until the Americans jumped on board, as a report came out suggesting that perhaps tax reform was being

Dow Jones 30

The Dow Jones 30 was relatively quiet until the Americans jumped on board, as a report came out suggesting that perhaps tax reform was being worked on and a bit of progress had happened. That being the case, it’s likely that the market will continue to look at anything tax related as a catalyst to go higher. The 22,000 level above should offer resistance though, so I think this is a short-term move to the upside.

Dow Jones 30 and NASDAQ Index Video 23.8.17

NASDAQ 100

The NASDAQ 100 broke out and above the 5825 handle, and now looks to reach towards the 5900 level above. That is a massive amount of resistance just waiting to happen, so I don’t know if we can break above there. If there is a break above there, then it is a bullish sign. Ultimately, I think that if we get an exhaustive looking candle, it might be a nice short-term selling opportunity.

NASDAQ 100 daily chart, August 23, 2017

About the Author

Christopher Lewisauthor

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.