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E-mini Dow Jones Forecast: February 10, 2015

Published 02/10/2015, 02:47 AM
Updated 07/09/2023, 06:31 AM

E-mini Dow Jones Daily Chart

E-mini Dow Jones overbought and chances are we will continue lower. First support level at 17,680/670 is key to direction and if this does not hold the downside we are likely to retest yesterday’s low at 17,624 & perhaps see 17,615/600. However we don't meet strong support until the 17,500/17,535 area. There is a good chance of a low for the day here but longs need a stop below 17,500. Be ready to go with a break lower to target the next support level at 17,460/17,430. Try longs here with a stop below 17,400.

Holding above 17,680/670 allows a move towards first resistance at 17,750/770 but above here is more positive for today at least and could target 17,820/830. If we continue higher retest of 17,890/900 could be seen and it is worth trying shorts with a stop above 17,930. A break higher however could target 17,980/990.

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