E-mini Dow Jones Industrial Average (YM) Futures Analysis – Inside Move Suggests Investor Indecision

March E-mini Dow Jones Industrial Average futures are trading higher shortly after the opening. The market is also trading inside yesterday’s range, suggesting investor indecision and impending volatility. Yesterday’s potentially bearish closing price reversal top has not been confirmed.

Daily Technical Analysis

The main trend is up according to the daily swing chart. However, yesterday’s closing price reversal top may have slowed down the momentum.

A trade though 25359 will negate the reversal top and signal a resumption of the uptrend.

A move through 25210 will confirm the closing price reversal top. This could trigger the start of a 2 to 3 correction.

The main range is 24086 to 25359. Its retracement zone is 24723 to 24572. If the reversal top is confirmed then this zone will become the primary downside target.

Daily Technical Forecast

Based on the early price action, the direction of the Dow the rest of the session is likely to be determined by trader reaction to 25210.

A sustained move over 25210 will indicate that buyers are still coming in to support the uptrend.

A sustained move under 25210 will signal the presence of sellers. The daily chart is wide open to the downside so this may be the trigger point for the start of a steep sell-off. The first target angle comes in at 24758, followed by the 50% level at 24723.