The Dow Jones 30 as you can see initially fell during the course of the day on Monday, but found enough support at the 16,250 level to turn things back
The Dow Jones 30 as you can see initially fell during the course of the day on Monday, but found enough support at the 16,250 level to turn things back around and form a nice-looking hammer. With that being the case, the market looks as if it’s ready to break out to the upside and the fact that the other US indices had such strong showings during the day leads us to believe that the market will continue to go much higher, and therefore we are buyers on a break above the top of the range for the Monday session. We also believe that buying pullbacks are possible as well.
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.
