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.
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.
