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Dow Jones Industrial Average Futures Forecast December 31, 2012, Technical Analysis

By:
Christopher Lewis
Updated: Jun 16, 2015, 21:39 UTC

The Dow Jones futures fell during the session on Friday, for the fifth session in a row. We are getting close to a significant amount of support though,

Dow Jones Industrial Average Futures Forecast December 31, 2012, Technical Analysis

The Dow Jones futures fell during the session on Friday, for the fifth session in a row. We are getting close to a significant amount of support though, and as such we don’t know how much farther we have the fall before we would see a bit of a bounce. This market will unfortunately be reacting to headlines coming out of DC with the so-called “fiscal cliff” talks taking center stage, and this is going to be very difficult to anticipate. Ultimately, we think that the market wants to go higher, but looking at the longer-term charts we have definitely seen some weakness lately that could suggest a pullback is coming in the relatively short term. With that being the case, we are willing to sell once we get below the 12,900 level, or by once we get above the 13,100 area. Until then, we think this market will be very choppy.

 

Dow Jones Industrial Average Futures Forecast December 31, 2012, Technical Analysis
Dow Jones Industrial Average Futures Forecast December 31, 2012, Technical Analysis

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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