E-mini Dow Jones Industrial Average

E-mini Dow Jones Industrial Average (YM) Futures Analysis – February 13, 2018 Forecast

March E-mini Dow Jones Industrial Average futures are called lower based on the pre-market trade. The Dow is trading inside yesterday’s range which suggests investor indecision and impending volatility.

E-mini Dow Jones Industrial Average
Daily March E-mini Dow Jones Industrial Average

Daily Technical Analysis

The main trend is down according to the daily swing chart. A trade through 23088 will signal a resumption of the downtrend.

The minor trend is also down. A trade through 25239 will change the minor trend to up.

The main range is 26684 to 23088. Its retracement zone at 24886 to 25310 is resistance.

The intermediate retracement zone at 24164 to 23910 is support.

The market is currently straddling a short-term retracement zone at 24282 to 24508. Trader reaction to this zone will determine the direction today.

Daily Technical Forecast

Based on the early trade, the direction of the Dow early in the session will be determined by trader reaction to 24508.

A sustained move over 24508 will indicate the presence of buyers. This could drive the Dow into 24886. This is followed by a downtrending angle at 25276 and 25310.

A sustained move under 24508 will signal the presence of sellers. Targets are lined up at 24282, 24164 and 23910.

The trigger point for an acceleration to the downside is 23910.

Published by

James Hyerczyk

James A. Hyerczyk has worked as a fundamental and technical financial market analyst since 1982. His technical work features the pattern, price and time analysis techniques of W.D. Gann.