E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – 26095 Pivot Tuesday’s Early Support

September E-mini Dow Jones Industrial Average futures are inching higher into the close on Monday. Low volume was the highlight of the day with investors seemingly reluctant to follow-through to the upside following last week’s higher close. Worries over the U.S. Federal Reserve’s interest rate and monetary policy decisions on Wednesday appear to be keeping a lid on prices.

At 20:52 GMT, September E-mini Dow Jones Industrial Average futures are trading 26143, up 15 or +0.05%.

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. A trade through 26292 will signal a resumption of the uptrend. The main trend will change to down on a trade through 25897.

The short-term range is 26292 to 25897. Its 50% level or pivot at 26095 provided support throughout the session on Monday.

The major range is 26710 to 24626. Its retracement zone at 25914 to 25668 is support. The zone provided support on June 13 when buyers came in at 25897.

The main range is 24626 to 26292. If the main trend changes to down then its retracement zone at 25459 to 25262 will become the primary downside target.

Daily Swing Chart Technical Forecast

Based on the price action and the close at 26151, the direction of the September E-mini Dow Jones Industrial Average early Tuesday is likely to be determined by trader reaction to the pivot at 26095.

Bullish Scenario

A sustained move over 26095 will indicate the presence of buyers. If this move creates enough upside momentum then look for a potential drive into the 26292 main top. This is a potential trigger point for an acceleration to the upside.

Bearish Scenario

A sustained move under 26095 will signal the presence of sellers. If this move generates enough downside momentum then look for a potential break into the major Fibonacci level at 25914, followed by the main bottom at 25897. The trend will change to down if this bottom fails to hold.