The Dow Jones 30 as you can see fell rather rapidly during the course of the session on Monday, slamming into the 15,500 level. We bounced almost 400
The Dow Jones 30 as you can see fell rather rapidly during the course of the session on Monday, slamming into the 15,500 level. We bounced almost 400 points, which of course is a very bullish sign, but in the context of things is simply just a sign of resiliency. We need to see a supportive candle in order to start going long, but we do not have it yet. We certainly don’t want to short this market yet though, because there is the aspect of potentially “chasing the trade.” We are on the sidelines and will monitor the daily charts.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
