E-mini Dow Jones Industrial Average (YM) Futures Analysis – November 2, 2015 Forecast

December E-mini Dow Jones Industrial Average futures are trading higher after early session weakness confirmed Friday’s potentially bearish closing price reversal top.

Based on the midday price at 17683, the key angle to watch comes in at 17625. Look for a bullish tone as long as the Dow remains on the strong side of this angle. This could create enough upside momentum to challenge the reversal top at 17769.

A break back under the angle at 17625 will signal the presence of sellers. A sustained move under this angle could create enough downside momentum to fuel a break into the longer-term uptrending angle at 17335.

Watch the price action and read the order flow at 17625 all session. Trader reaction to this angle will tell us whether the bulls or the bears are in control.