E-mini Dow Jones Industrial Average (YM) Futures Analysis – April 5, 2018 Forecast

June E-mini Dow Jones Industrial Average futures are expected to open higher based on the pre-market trade. The market is currently in a strong position to change the main trend to up.

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart. A trade through 24435 will change the main trend to up.

The intermediate range is 23122 to 25832. The market is currently trading inside its retracement zone at 24477 to 24157. This zone is also controlling the direction of the Dow today.

The short-term Fibonacci level is 24682.

The main range is 26723 to 23122. Its retracement zone at 24923 to 25347 is the primary upside target.

Daily Swing Chart Technical Forecast

Based on the early trade, the direction of the Dow the rest of the session is likely to be determined by trader reaction to 24435.

Taking out 24435 will change the main trend to up. This could create the upside momentum to overcome 24477. This is a possible trigger point for an acceleration into 24682. This is another trigger point for an acceleration into 24923.

The inability to overcome and sustain a move over 24435 will signal the presence of sellers. This could lead to a retest of the Fib level at 24157. Look out to the downside if this level fails. Taking out this level could trigger the start of a steep correction of the rally from 23306.