E-Mini Dow Jones future technical chart indicators and studies suggest broad uptrend. Prices are above the 14 days moving average.
E-Mini Dow Jones future Dicember 7 close was at 19517 (+1.48%), not far from daily high. Marked a third consecutive positive trading session. Technical chart indicators and studies suggest broad uptrend, so today trading session forecast is for further price extensions towards the most significant resistance levels. The major oscillators confirm the upward trend. We suggest to monitore today closing.
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Simple Moving Average (SMA)
Prices are above the 14 days moving average (SMA value is 19122). The short term view is therefore strong bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Daily chart shows an increase in volumes compared to 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: 07/12/2016.
Performance: 7 trading days= +2.10% – 15 trading days= +3.43% – 30 trading days= +7.94%
Resistance levels: R1= 19644 – R2= 19771 – R3= 20111
Pivot Point: 19431
Support levels: S1= 19304 – S2= 19091 – S3= 18751
Buying opportunity above 19550 targets minor resistance at 19622 and perhaps as far as strong resistance at 19693, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 19890.
Selling opportunity below 19425 targets minor support at 19355 and perhaps as far as strong support at 19287, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 19088.