The Dow Jones 30 initially fell during the course of the week but found enough support at the 15,500 level to turn things around and form a nice-looking
The Dow Jones 30 initially fell during the course of the week but found enough support at the 15,500 level to turn things around and form a nice-looking hammer. This hammer is essentially a “double bottom” and as a result on a break above the top of the hammer we would be buyers and perhaps heading towards the 17,100 level. The stock indices around the world look as if they are starting to find support, so this point in time we believe that the very least a bounce is coming.
Dow Jones 30 forecast for the week of January 25, 2016, 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.
