Emini Dow Jones Sep13 beat 14840/50 & then broke the target of 14904 as we close in on the next target of 14985/95. We are getting overbought short
Emini Dow Jones September contract Daily Forecast - 23 August 2013Emini Dow Jones Sep13 beat 14840/50 & then broke the target of 14904 as we close in on the next target of 14985/95. We are getting overbought short term so we should struggle here. We should be profit taking on longs here today but be aware that the outlook remains positive. If trying shorts therefore keep a tight stop above 15030 & be ready to go with a break higher for a move towards the 100 day moving average at 15070, possibly as far as 15100/10 for a selling opportunity.
The downside should be quite limited today with support at 14895/90. However below 14875 risks a slide to 14850/45.
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