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Dow Jones 30 Forecast December 7, 2016, Technical Analysis

By:
Christopher Lewis
Published: Dec 7, 2016, 05:00 UTC

The Dow Jones 30 fell slightly on Tuesday, but turned around to form a hammer. The hammer looks bullish, and it looks as if we are going to continue to

Dow Jones 30 daily chart, December 07, 2016

The Dow Jones 30 fell slightly on Tuesday, but turned around to form a hammer. The hammer looks bullish, and it looks as if we are going to continue to grind higher, perhaps reaching towards 20,000 over the longer term which has been my longer-term target for some time. I believe that the 19,000 level below continues to offer support, and with this I think that buyers can return to this market again and again every time we pullback. I have no interest in selling, and believe that the writing is on the wall at this point.

About the Author

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.

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