E-mini Dow Jones Industrial Average (YM) Futures Analysis – January 11, 2018 Forecast

March E-mini Dow Jones Industrial Average futures are called higher based on the pre-market trade. The market is getting a boost from the lower-than-expected producer price index report which suggests the Fed may have to reduce the number of rate hikes this year.

Daily Technical Analysis

The main trend is up according to the daily swing chart. A trade through 25415 will signal a resumption of the uptrend.

A trade through 25222 will change the minor trend to down.

The short-term range is 25415 to 25222. Its 50% level or pivot is controlling the direction of the market today.

The main range is 24086 to 25415. If there is a sharp break then its retracement zone at 24751 to 24594 will become the primary downside target.

Daily Technical Forecast

Based on the early trade, the direction of the Dow today will be determined by trader reaction to the pivot at 25319.

A sustained move over 25319 will indicate the presence of buyers. This could create the upside momentum needed to overcome 25415.

A sustained move under 25319 will signal the presence of sellers. This could generate the downside momentum needed to take out 25222. This price is a potential trigger point for an acceleration to the downside with the next targets an uptrending Gann angle at 24822, followed by a 50% level at 24751.