The Dow Jones 30 fell significantly during the course of the session on Monday, even drifting below the 16,000 level at one point. If we can break down
The Dow Jones 30 fell significantly during the course of the session on Monday, even drifting below the 16,000 level at one point. If we can break down below the bottom of the range for the session on Monday, the market should continue to go much lower. If we rally from here, we will look for resistive candles in order to start selling again in this very strong downtrend. If we break above the 16,700 level, at that point in time we could start buying as it would show a shift in momentum. Until then, we remain very bearish.
Dow Jones 30 Forecast January 19, 2016, Technical Analysis
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.
