E-Mini Dow Jones marked a third consecutive positive trading session. The main trend is strongly bullish, buying opportunity above 17213.
E-Mini Dow Jones future close yesterday trading session slightly higher, at 17148 (+0.12%). Technical analysis applied to the daily chart shows a neutral trend, inside a strongly bullish main trend. For today trading session the forecast of price movements is between support and resistance levels. The major oscillators area positive, however no bullish or bearish signals are triggered. Marked a third consecutive positive trading session. We suggest to monitore today closing.
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Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 16833). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
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: 15/01/2016.
Performance: 7 trading days= +0.59% – 15 trading days= +4.10% – 30 trading days= +5.44%
Resistance levels: R1= 17198 – R2= 17247 – R3= 17384
Pivot Point: 17110
Support levels: S1= 17061 – S2= 16973 – S3= 16836
DAILY TRADING SIGNALS
Buying opportunity above 17213 targets minor resistance at 17285 and perhaps as far as strong resistance at 17343, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 17508.
Selling opportunity below 17078 targets minor support at 17011 and perhaps as far as strong support at 16953, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 16784.