Emini Dow Jones held support at 16420/410 & unexpectedly beat 16560/570 to hit our next target of 16690/16700. Prices topped exactly here & being
Emini Dow Jones December contract Daily Forecast - 24 October 2014Emini Dow Jones held support at 16420/410 & unexpectedly beat 16560/570 to hit our next target of 16690/16700. Prices topped exactly here & being severely overbought now we should turn lower. Already we have hit support at 16515/510 but below here targets 16480. If this does not hold the downside look for a move towards 16380. Good support from here down to 16350 but any longs need stops below 16320. A break lower could then target 16245.
Immediate resistance at 16600 but above here we could retest 16690/16700 for a selling opportunity with stops above 16750. A break higher however could target 16780/85 then 16860.
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