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
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.
