E-mini Dow Jones Industrial Average (YM) Futures Analysis – March 15, 2018 Forecast

Based on the early trade, the direction of the Dow today is likely to be determined by trader reaction to a 50% level at 24923 and a Fibonacci level at 24730.
James Hyerczyk
E-mini Dow Jones Industrial Average

June E-mini Dow Jones Industrial Average futures are trading higher shortly after the opening, but gains are limited to be capped today by lingering trade tensions. Traders are closely monitoring a Wall Street Journal report that said the White House is considering implementing tariffs on at least $30 billion of Chinese imports as part of a package of anti-China measures.

Daily June E-mini Dow Jones Industrial Average

Daily Technical Analysis

The main trend is down according to the daily swing chart. The market is also being pressured by Monday’s closing price reversal top which indicates the selling may be greater than the buying at current price levels.

A trade through 25535 will negate the reversal top and change the main trend to up. A move through 24233 will signal a resumption of the downtrend.

The main range is 26723 to 23211. Its retracement zone at 24923 to 25347 is controlling the longer-term direction of the market. Trading below this zone is giving the market a downside bias today.

The short-term range is 24233 to 25535. Its retracement zone at 24884 to 24730 stopped the selling on Wednesday and earlier today.

The intermediate range is 23122 to 25822. Its retracement zone at 24329 to 24044 stopped the price slide at 24233 on March 2.

Daily Technical Forecast

Based on the early trade, the direction of the Dow today is likely to be determined by trader reaction to a 50% level at 24923 and a Fibonacci level at 24730.

A sustained move over 24923 will indicate the presence of buyers. This could trigger a rally into a steep downtrending Gann angle at 25151. This is another trigger point for an extension into a resistance cluster at 25343 to 25347.

A sustained move under 24730 will signal the presence of sellers. Taking out this price could trigger a steep break into an uptrending Gann angle at 24521. If this angle fails then look for the selling to extend into 24377 then 24329.

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers

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.