E-mini Dow Jones Industrial Average (YM) Futures Analysis – August 26, 2015 Forecast

September E-mini Dow Jones industrial Average futures are called better based on the pre-market trade. The market is currently straddling a steep downtrending angle at 15999. Trader reaction to this angle will likely determine the direction of the market today.

A sustained move over this angle will likely trigger a rally into a long-term downtrending angle at 16219.

The short-term range is 17535 to 15285. If the rally continues beyond 16219 then look for it to extend into the 50% level at 16410. This price is also a trigger point for an acceleration into the Fibonacci level at 16676.

The first resistance angle over 16676 is 16767. This is also a potential trigger point for a breakout into a resistance cluster at 17147 to 17151.

Watch the price action and read the order flow at 15999 today. Trader reaction to this number will tell us whether the bulls or the bears are in control.