Indices staged a recovery on Tuesday, but morning trading so far has been cautious.
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The index managed to rebound on Tuesday, recovering some losses. For a low to be formed, we would need to see additional gains towards 7450, which might then bolster a near-term bullish view and open the way towards the 200-day SMA.Tuesday saw the index make some headway, building on Monday’s dip below and then recovering above 14,700. While this has halted the selling for now, further gains back above 15,000 would be needed to suggest that a low is in.
Like other indices, the Dow staged a recovery on Tuesday, but it is not yet certain that a low has been formed. Any continued recovery targets the 200-day SMA and then the October highs around 34,000. A close above 34,100 might signal that a broader rally was underway.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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