The Dow Jones 30 broke higher during the course of the day on Tuesday, but found enough resistance at the 17,150 level to turn the market back around and
The Dow Jones 30 broke higher during the course of the day on Tuesday, but found enough resistance at the 17,150 level to turn the market back around and form a shooting star. The shooting star of course suggests that the market is going to continue to try to break down below the support, but the supportive area has been rather strong. Because of this, we think that the Dow Jones 31 essentially grind sideways between the 16,950 level on the bottom, and the 17,150 level on the top. Ultimately though we do think that this market will break out to the upside given enough time.
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.
