The Dow Jones 30 initially fell hard during the course of the session on Wednesday, but found enough support at the 17,300 level to turn things back
The Dow Jones 30 initially fell hard during the course of the session on Wednesday, but found enough support at the 17,300 level to turn things back around and form a nice-looking hammer. With this, the market looks as if it is ready to go higher, and therefore we are buyers. We recognize there will be a lot of volatility, but ultimately we feel that the market is heading towards the 17,800 level given enough time. With no interest in shorting, every time this market has fallen recently, there has been strong buying.
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.
