The Dow Jones 30 fell a little bit during the session on Friday, pulling back from the 16,700 level. With this, the market looks as if it is trying to
The Dow Jones 30 fell a little bit during the session on Friday, pulling back from the 16,700 level. With this, the market looks as if it is trying to take a little bit of a breather after a significant move higher. However, you have to look at the weekly chart and understand that the massive hammer that formed during that time suggests that the buyers are in fact going to continue to go into this market based upon value. A break above the 16,700 level should be a buying opportunity, but pullbacks and show signs of support should also offer the same.
Dow Jones 30 Forecast August 31, 2015, Technical Analysis
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.
