The Dow Jones 30 initially fell during the course of the session on Friday, testing the 17,250 level. This is an area that had previously been resistive,
The Dow Jones 30 initially fell during the course of the session on Friday, testing the 17,250 level. This is an area that had previously been resistive, and now looks to be offered support. The fact that we formed a hammer suggests that the buyers are going to take over again, so therefore we are bullish of this market and fully anticipate that the market will reach towards the 18,000 handle. The 18,000 level of course is massively resistive, but we do think eventually we break out to the upside and above that level. With no interest in selling.
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.
