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.
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.
