E-mini Dow Jones Industrial Average (YM) Futures Analysis – May 25, 2018 Forecast

June E-mini Dow Jones Industrial Average is called slightly lower shortly before the opening. Volume is expected to be light today ahead of the long U.S. holiday week-end. Traders are reacting to earnings and renewed interest in geopolitical events.

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. However, momentum is trending lower.

A trade through 25080 will signal a resumption of the uptrend. A move through 24584 will indicate the selling pressure is getting stronger.

On the upside, the key resistance is a retracement zone at 24926 to 25351. This zone stopped the rally earlier in the week at 25080.

The main range is 23467 to 25080. If the sell-off continues then its retracement zone at 24274 to 24083 will become the primary downside target.

Daily Swing Chart Technical Forecast

Based on the early trade, the direction of the Dow today is likely to be determined by trader reaction to the major 50% level at 24926.

A sustained move under 24926 will indicate the presence of sellers. If this move generates enough downside momentum, we could see a retest of 24584.

Taking out 24584 could trigger an acceleration to the downside with 24274 the next likely downside target.

Overtaking and sustaining a move over 24926 will signal the presence of buyers. If this move attracts enough buyers then look for the rally to extend into this week’s high at 25080. This is a potential trigger point for an acceleration into the major Fibonacci level at 25351.