The Dow Jones 30 as you can see fell during the course of the week, finding enough support near the 16,700 level to turn things back around and form a
The Dow Jones 30 as you can see fell during the course of the week, finding enough support near the 16,700 level to turn things back around and form a nice-looking hammer. Because of that, it appears that the market is going to go much higher, and a break above the top of the hammer sends this market looking for at least 17,301st, and then ultimately 20,000 in our opinion. Any pullback at this point time should continue to find buyers, as the uptrend line should continue to push the market higher.
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.
