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Dow Futures And S&P: Stay Neutral Over Intraday Basis

Published 11/26/2015, 05:20 AM
Updated 07/09/2023, 06:31 AM

Dow Futures is moving within the same trading range after bouncing from 76.4% Fibonacci, as we explained yesterday.

Dow Jones Daily Chart

The index trades below 88.6% Fibonacci retracement, while other technical indicators-ADX and RSI- are in a neutral mode.

Thus, we remain neutral over intraday basis, as low liquidity conditions are awaited due to the Thanksgiving holiday in US.

Support: 17700.00-17620.00-17550.00

Resistance: 17900.00-18030.00-18125.00

Direction: Neutral

Struggle around 88.6% Fibonacci retracement continues along with very slow movements on S&P 500 since yesterday.

S&P 500 Daily Chart

U.S. stock market holiday may make it difficult for future to show big moves; thus, we will be on the sidelines.

Support: 2075.00-2062.00-2056.00

Resistance: 2097.00-2107.00-2113.00

Direction: Neutral

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