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.
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.
