Market Overview

Technical Forecast for Dow Jones

Share:
Technical Forecast for Dow Jones

 


Emini Dow Jones Sep13 topped around 15404/09 & as expected broke 15305/15290 to the downside & hit the target of 15260/55 to bottom exactly here. We are in a 2 week down trend & should stick with this trend. A break lower sees 15233 then tests good support at 15170/65. We should look oversold short term at this stage so watch for a bounce from here as the longer term trend is still bullish. Exit shorts & try longs with stops below 15115. A break lower should then target very strong support at 15050/35 for a buying opportunity & an end to this correction.


 


Immediate resistance at 15309 but above here a selling opportunity at 15335/45 with a high for the day expected. However shorts need stops above 15370 for 15390. Exit longs up to here & try shorts with stops above 15430.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas

 

Related Articles

View Comments and Join the Discussion!