The Dow Jones 30 initially tried to rally, but struggled at the 16,200 level and turned back around to form a shooting star. This signifies that we will
The Dow Jones 30 initially tried to rally, but struggled at the 16,200 level and turned back around to form a shooting star. This signifies that we will more than likely fall from here, but we need to make a fresh, new low in order to start selling. Rallies will continue to offer short-term selling opportunities, at least until we get above the 16,600 level. Once we break above there, then we can start buying, but until that happens we have no interest in doing so as the market will have shown a momentum change.
Dow Jones 30 Forecast January 20, 2016, Technical Analysis
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.
