FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
59,470,595Confirmed
1,401,384Deaths
41,113,400Recovered
Fetching Location Data…
Advertisement
Advertisement
James Hyerczyk
E-mini Dow Jones Industrial Average

December E-mini Dow Jones Industrial Average futures are trading mixed late in the session on Thursday after posting a choppy, two-sided trade most of the session. The blue chip average was pressured early in the session as a surprise rise in weekly jobless claims signaled a slowdown in economic growth, but bargain-hunters stepped in to gobble-up cheap technology-related stocks to fuel a turnaround the market.

At 19:13 GMT, December E-mini Dow Jones Industrial Average futures are trading 26689, up 4 or +0.01%.

Dow constituents, considered a barometer of economic confidence, lagged the S&P 500 on Thursday as data showed 870,000 Americans applied for jobless benefits in the week-ended September 19, up from 866,000 in the previous week.

Daily December E-mini Dow Jones Industrial Average

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart, but the price action suggests momentum may be shifting to the upside.

A trade through 26407 will signal a resumption of the downtrend, but a close over 26685 will form a potentially bullish closing price reversal bottom. This won’t change the main trend to up, but it could signal the start of a 2 to 3 day counter-trend rally.

The main range is 24377 to 29050. The Dow is currently testing its retracement zone at 26714 to 26162. Trader reaction to this area could determine the near-term direction of the futures contract.

Advertisement

Short-Term Forecast

The direction of the December E-mini Dow Jones Industrial Average into the close will be determined by trader reaction to Wednesday’s close at 26685.

Bearish Scenario

A sustained move under 26685 will indicate the presence of sellers. This could lead to a late session retest of 26407, followed by the main Fibonacci level at 26162. This price is a potential trigger point for an acceleration to the downside.

Bullish Scenario

A sustained move over 26685 will signal the presence of buyers. Overcoming the 50% level at 26714 will indicate the buying is getting stronger, leading to a possible rally into the short-term Fibonacci level at 27027.

For a look at all of today’s economic events, check out our economic calendar.
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

  • Your capital is at risk
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