The Dow Jones 30 as you can see initially fell during the course of the day on Thursday, but found enough support near the 16,700 level to turn things
The Dow Jones 30 as you can see initially fell during the course of the day on Thursday, but found enough support near the 16,700 level to turn things back around and form a hammer. The hammer of course suggests that the market is going to go higher from here, heading towards the 17,000 level as far as we can see. With that being the case, we are looking to buy on a break of the top of a hammer, and with the nonfarm payroll number coming out, it’s possible that the market goes higher in reaction to that announcement.
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.
