The Dow Jones 30 initially tried to rally during the day on Tuesday as traders picked up a volume from the holiday. However, the 20,000 level continues to
The Dow Jones 30 initially tried to rally during the day on Tuesday as traders picked up a volume from the holiday. However, the 20,000 level continues to be rather resistive, and that of course causes a bit of a problem. I think a pullback is needed in order to pick up the momentum necessary to break above the psychologically important 20,000 handle, and today’s candle shows that. Short-term, sellers will probably step back into the market but I believe there is more than enough bullish pressure underneath to continue to push the Dow Jones 30 not only to the 20,000 handle, but above there as well.
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.
