The Dow Jones 30 tried to go higher during the course of the day on Monday, but found the 17,100 level to be a bit too resistive. Ultimately, the
The Dow Jones 30 tried to go higher during the course of the day on Monday, but found the 17,100 level to be a bit too resistive. Ultimately, the resistive candle ended up looking a lot like a shooting star, so we feel that this market may drift a little bit to the downside. We do believe that the market has plenty of support below though, and as a result we feel that this market can only be bought on supportive candles below and have no interest whatsoever in shorting at this point in time.
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.
