The Dow Jones Industrial Average initially tried to bounce during the course of the session on Friday, but as you can see the market found way too much in
The Dow Jones Industrial Average initially tried to bounce during the course of the session on Friday, but as you can see the market found way too much in the way of resistance, and as a result the market fell back down. The market closed above the 16,500 level though, we think that the area could possibly offer minor support. We still believe that the market is going to continue to fall below there, but recognize that the area could cause a short-term bounce. Any bounce though should be treated with suspicion, as the market certainly looks busted 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.
