FXEMPIRE
All
Ad
Advertisement
Advertisement
James Hyerczyk
Add to Bookmarks
Daily December E-mini Dow Jones Industrial Average
Daily December E-mini Dow Jones Industrial Average

December E-mini Dow Jones Industrial Average futures accelerated to the downside after taking out a major Fibonacci level at 16381 and a long-term uptrending angle from the 15825 bottom at 16333 today. These angles are resistance today.

The daily chart indicates there is plenty of room to the downside. Breaking the August 8 bottom at 16143 could trigger an acceleration to the downside with another long-term uptrending angle at 16079 the next likely target. This is the last potential support before the April 11 main bottom at 15825.

Advertisement
Know where the Market is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Daily December E-mini Dow Jones Industrial Average

Overcoming the angle at 16333 will be the first sign of strength, but don’t look for an acceleration to the upside until the Fibonacci level at 16381 is taken out with conviction. It is recommended that short sellers have an exit strategy in place because overtaking 16381 could trigger a sharp rally back to 16552.

Look for a weak tone early in the session. Sentiment may change to the upside if 16381 is taken out with better-than-average volume. 

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker