The recent rally in the Dow Jones Industrial Average hit resistance around the 8,000-point level, but the gains are set to return after the Easter break, Sandy Jadeja, chief market strategist from ODL Securities, told CNBC.
“Typically before holidays we do tend to see pullbacks, but just after holidays we start to see a strong rally,” Jadeja said.
“So I’m expecting a pullback this week and a stronger rally into next week again," he said.
Even if the Dow pulls back 4 to 5 percent from current levels during this week, it will not give a clear sell signal, Jadeja told CNBC.
Watch the video to the left to see Jadeja’s predictions for the price of oil and the FTSE-100.