June E-mini Dow Jones Industrial Average futures are trading lower shortly before the cash market opening. There was very little follow-through to the
June E-mini Dow Jones Industrial Average futures are trading lower shortly before the cash market opening. There was very little follow-through to the downside early in the session after Tuesday’s steep sell-off.
Daily June E-mini Dow Jones Industrial Average
The main trend is up but momentum is trending lower. If it continues to move lower then the first downside target is the major retracement zone at 20380 to 20209.
On the upside, the nearest resistance angle is 20625. This is a potential trigger point for an acceleration into 20778 then 20863.
Watch the price action and read the order flow at 20625 today. Trader reaction to this angle will set the tone for the day.
James Hyerczyk is a U.S. based seasoned technical analyst and educator with over 40 years of experience in market analysis and trading, specializing in chart patterns and price movement. He is the author of two books on technical analysis and has a background in both futures and stock markets.
