NASDAQ 100 and Dow Jones 30 Forecast February 27, 2017, Technical Analysis

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Updated: Feb 25, 2017, 05:41 GMT+00:00

NASDAQ 100 The NASDAQ 100 pulled back during the day on Friday, but found enough buyers to turn things around to form a nice-looking hammer. However, the

NASDAQ 100

The NASDAQ 100 pulled back during the day on Friday, but found enough buyers to turn things around to form a nice-looking hammer. However, the weekly candle is a shooting star so I think we could see a continuation of the negativity and the short-term. However, I have no interest in selling I believe that pullbacks offer value.

NASDAQ100 and Dow Jones 30 Video 27.2.17

Watch our NASDAQ 100 and Dow Jones 30 Video Forecast:

Dow Jones 30

The Dow Jones 30 fell initially during the day on Friday, but turned around to form a hammer. If we can break above the top of the hammer it looks like we will continue to go higher. On the other hand, if we break down from here, I think that the market will find more support at the 20,600 level as well. Either way, I have no interest whatsoever in shorting this market.

Dow Jones 30 daily chart, February 27, 2017

About the Author

Christopher Lewisauthor

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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