E-Mini Dow Jones: marked a sixth consecutive negative trading session

On the 07/01/2016 E-Mini Dow Jones future close was at 16419 (-2.49%). The main trend is down on the daily chart, the bears are in control.

On the 07/01/2016 E-Mini Dow Jones future close was at 16419 (-2.49%). New bearish technical picture drawn on daily chart (high2 > high1, high1 > high, low2 > low1, low1 > low, close2 > close1, close1 > close), we suggest to watch today closing. The main trend is down on the daily chart, the bears are in control. The negative value of many leading oscillators indicates infact a downward trend. Marked a sixth consecutive negative trading session. We suggest to monitore today closing.

E-Mini Dow Jones

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 17227). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.
Volumes
Daily chart shows volume is higher than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 07/01/2016.

Performance: 7 trading days= -6.91% – 15 trading days= -7.00% – 30 trading days= -7.32%

Resistance levels: R1= 16744 – R2= 17070 – R3= 17584
Pivot Point: 16556
Support levels: S1= 16230 – S2= 16042 – S3= 15528


Buying opportunity above 16499 targets minor resistance at 16554 and perhaps as far as strong resistance at 16609, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 16777.

Selling opportunity below 16396 targets minor support at 16334 and perhaps as far as strong support at 16288, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 16127.