The Dow Jones 30 initially tried to fall during the session on Thursday, but turned back around to test the 17,500 level. Because of this, the market
The Dow Jones 30 initially tried to fall during the session on Thursday, but turned back around to test the 17,500 level. Because of this, the market looks as if it is ready go higher given enough time, and we are buyers of short-term pullbacks. We recognize that we have been grinding lower overall, but at this point time we believe that the market has essentially found all of the support that it needed below. The hammer that formed on Wednesday was absolutely perfect, so therefore we believe that the buyers will slowly starts take control in the Dow Jones Industrial Average.
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.
