Dow Jones jumps on reopening economy

Dow Jones futures jumped more than 0.8% to test the resistance level near 24000 while investors look forward to reopening of economy. Dow Jones had a last hour sell off near the level 24150, which is also the resistance zone. I anticipate Dow to bounce between trading range of 23750–24150 for intraday trading.

A test and rejection from the resistance zone near 24150 could be an entry for short position while a rebound from the support level near 23750 (the gap support area) could form a long entry. This strategy on drawing support and resistance is shown in the video…