Yesterday US Markets witnessed strong buying. That helped Dow Jones gather 113 points to close at 17716. This is good news for all those eyeing for 18000 in Dow.
Buying was mostly spurred by oil making a strong showing. And strength in oil got rubbed on to the stock market.
Push in oil prices were witnessed right after Fed announced that the rate hike will not be scheduled for April. Further there was surprise fall in oil inventories. Grapevine was also in the market that soon there will be agreement on production freeze between major oil producing countries.
Whatever be the reason or clutch of reasons, stellar performance of oil ensured that bulls thundered on in US stock markets.
Today if we have positive close in US markets it will be further confirmation that 18000 in Dow is going to be achieved.
So keep holding on to your long positions and good luck!
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