The Dow Jones 30 as you can see initially fell during the course of the week, but found enough support just below the 16,000 level to form a nice-looking
The Dow Jones 30 as you can see initially fell during the course of the week, but found enough support just below the 16,000 level to form a nice-looking hammer. The hammer suggests that we are going to go higher, and on a break of the top of that hammer at the 16,600 level, we believe that the Dow Jones then heads to the 17,300 level again. This is a bullish market, and that is not changed even though we have recently tested support very seriously and violently.
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.
