Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
James Hyerczyk
Daily March E-mini Dow Jones Industrial Average
Daily March E-mini Dow Jones Industrial Average

March E-mini Dow Jones Industrial Average futures are called lower this morning. Weaker oil prices are the catalyst behind the sell-off. Yesterday, the Dow rallied sharply higher as traders turned on the “risk-on” switch.

The strong close put the Dow in a position to turn the main trend to up on the daily chart, but a pair of major downtrending angles at 17635 and 17667 are preventing this today. Taking out this angles will be a sign of strength. This could lead to a move through the last main top at 17795. This will change the main trend to up on the daily chart.

Daily March E-mini Dow Jones Industrial Average

A trade through the downtrending angle at 17539 will be the first sign of weakness, but don’t look for an acceleration to the downside unless the uptrending angle at 17474 is taken out with conviction. This move could flush out the buyers with a trade to the next angle at 17218 a strong possibility.

The major range is 16974 to 18051. Its pivot at 17513 is controlling the long-term direction of the market. Trader reaction to this price could eventually determine the longer-term tone of the market. Continuing to straddle this level with closes below it will indicate distribution which is a bearish sign.

Generally speaking, look for a somewhat upside bias as long as support holds at 17539 to 17513. The market will turn extremely bullish if 17667 is taken out with conviction and extremely bearish under 17474. 

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.