The Dow Jones 30 initially dropped at the open on Tuesday, but the 18,200 level offered enough support to turn things back around and form a fairly
The Dow Jones 30 initially dropped at the open on Tuesday, but the 18,200 level offered enough support to turn things back around and form a fairly positive candle. At this point, it looks as if we are trying to bring out to the upside but I also recognize that there is a significant amount of resistance at the 18,600 level above. A timer breakdown below the candle for the day is a negative sign, and as a result I would believe the market would reach towards the 18,000 level at that point. A break above the 18,600 level of course is bullish.
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.
