The Dow Jones 30 fell hard during the course of the week, crashing into the 16,600 level. We believe that the market does have a significant amount of
The Dow Jones 30 fell hard during the course of the week, crashing into the 16,600 level. We believe that the market does have a significant amount of support just below though, so at this point in time we would step to the side and wait to see whether or not we can find some type of supportive candle. If we got a supportive candle near the 16,500 level, we feel that this market would probably be a screaming buy at that point in time. With no interest in selling at this point, simply because it would be chasing the trade.
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.
