E-mini Dow Jones Industrial Average (YM) Futures Analysis – March 20, 2018 Forecast

June E-mini Dow Jones Industrial Average futures are expected to open nearly flat on Tuesday. The market traded in a narrow range during the pre-market period after yesterday’s volatile session. There was no follow-through to the downside after Monday’s move.

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart. A trade through 24461 will signal a resumption of the downtrend. This could lead to an eventual test of the next main bottom at 24233.

The support is a retracement zone at 24477 to 24157. The first or 50% level at 24477 essentially stopped the selling on Monday.

On the upside, the resistance is a retracement zone at 24923 to 25347. Inside this zone is a short-term retracement zone at 25033 to 25221. This area is also resistance.

Daily Swing Chart Technical Forecast

The early trade and inside move indicates investor indecision and impending volatility.

If bearish traders take control then look for a retest of 24477 and 24461. Taking out 24461 will indicate the selling is getting stronger. This could generate the downside momentum needed to challenge 24233 then 24157.

If bullish investors assume control then look for a possible surge into 24923. Overtaking this level will indicate the buying is getting stronger. This could lead to an extension of the rally into 25033. This price is the trigger point for an acceleration to the upside.