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

December E-mini Dow Jones Industrial Average futures are expected to open higher based on the pre-market trade. Increased demand for risky assets is unpinning prices today. The rally could be derailed later in the session on increased trade concerns or political turmoil in Washington.

Daily Technical Analysis

The main trend is up according to the swing chart. A trade through 26820 will signal a resumption of the uptrend. The main trend changes to down on a move through 25991.

The short-term range is 26820 to 26577. Its 50% level or pivot is 26699. This price level is controlling the direction of the market today.

The main range is 25991 to 26820. If the selling pressure persists then look for a possible break into its retracement zone at 26406 to 26308. Since the main trend is up, buyers are likely to show up on a test of this zone.

Daily Technical Forecast

Based on the early price action, the direction of the December E-mini Dow Jones Industrial Average futures contract the rest of the session is likely to be determined by trader reaction to the steep uptrending Gann angle at 26631.

A sustained move over 26631 will indicate the presence of buyers. This could lead to a test of the pivot at 26699. Overtaking this level will indicate the buying is getting stronger. This could drive the market into a long-term uptrending Gann angle at 26765.

If the buying is strong enough to cross to the bullish side of 26765 then look for the rally to possibly extend into 26820 or higher.

A sustained move under 26631 will signal the presence of sellers. The daily chart is wide open under this Gann angle with the next major downside targets coming in at 26424 and 26406.

Basically, look for the Dow to strengthen over 26699 and weaken under 26631.