E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – March 25, 2019 Forecast

Based on the earlier price action and the current price at 25471, the direction of the June E-mini Dow Jones Industrial Average the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at 25422.
James Hyerczyk
E-mini Dow Jones Industrial Average

June E-mini Dow Jones Industrial Average futures are under pressure shortly after the cash market opening. The selling is being fueled amid concerns over a potential U.S. recession later in the year after the U.S. Federal Reserve lowered its forecast for growth and implied it would not raise rates this year due to the weakening global economy.

At 14:33 GMT, June E-mini Dow Jones Industrial Average are trading 25471, down 99 or -0.39%.

Talk of a recession surfaced on Friday when a plunge in Treasury yields drove the 10-year Treasury note yield below the 3-month Treasury bill, causing an inversion in the yield curve. Historical data showed that this usually means the economy will fall into recession at some point in the future.

The technical bounce we are seeing after the opening is being fueled by better-than-expected German Consumer Confidence.

Daily June E-mini Dow Jones Industrial Average

Daily Technical Analysis

The main trend is down according to the daily swing chart. The current downside momentum is being fueled by the closing price reversal top at 26145 from March 19. It has put the Dow in a position to challenge the last main bottom at 25246. A trade through this bottom will change the main trend to down.

The minor trend is also down. This reaffirms the shift in momentum.

The short-term range is 25246 to 26145. Its retracement zone at 25589 to 25696 is resistance.

Daily Technical Forecast

Based on the earlier price action and the current price at 25471, the direction of the June E-mini Dow Jones Industrial Average the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at 25422.

Bullish Scenario

A sustained move over 25422 will indicate the presence of buyers. If this creates enough upside momentum then look for a potential intraday retracement into a cluster of levels at 25589, 25598, 25623 and 25633. This area provided resistance earlier in the session. Overtaking it later in the day could trigger a further rally into the main 50% level at 25696. This is a potential trigger point for an acceleration to the upside.

Bearish Scenario

A sustained move under 25422 will signal the presence of sellers. This could trigger a further break into a pair of uptrending Gann angles at 25334 and 25290. The latter is the last potential support angle before the 25246 main bottom.

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers

IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US