The Dow Jones 30 initially fell during the day on Monday, but like all US stock indices, found enough support below to turn things back around and form a
The Dow Jones 30 initially fell during the day on Monday, but like all US stock indices, found enough support below to turn things back around and form a positive candle. The hammer of course looks very bullish and as a result we are buyers on a break of the top of the hammer, as it should signify more bullish momentum to continue going higher. We believe that pullbacks should be supportive as well, and as a result we have no plans whatsoever in shorting this marketplace anytime soon as the buyers most certainly are in control.
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.
