The Dow Jones 30 went back and forth during the week, forming a bit of a neutral candle. This is a market that is overextended by just about any measure
The Dow Jones 30 went back and forth during the week, forming a bit of a neutral candle. This is a market that is overextended by just about any measure you use, so I think a pullback is coming. Even if we do go higher from here, 20,000 will most certainly be massively resistive, so that might be what causes a pullback. I think the 19,000 level is essentially the “floor” at this point, and given enough time the market will find buyers as the Dow Jones 30 has been so strong.
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.
