The Dow Jones 30 went back and forth during the course of the week but found enough support near the 17,700 level to turn things around and form a bit of
The Dow Jones 30 went back and forth during the course of the week but found enough support near the 17,700 level to turn things around and form a bit of a hammer. The hammer of course suggests that we are going to go higher and therefore we are buyers on a break above the top of the hammer. We feel that the market will grind its way towards the 18,300 level, but we anticipate quite a bit of noise between here and there so you will have to be patient in order to collect your profits.
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.
