Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Emini Dow Jones: Longs Need Wide Stops Below 20200

Published 04/20/2017, 06:50 AM
Updated 07/09/2023, 06:31 AM

Emini Dow Jones Weekly Chart

Emini Dow Jones holding below the 20356 March low targets strong support at 20280/270. This is the best chance of a low for the correction phase. Longs need wide stops below 20200. We need a daily close and preferably a weekly close below 20200 tomorrow night to confirm an important sell signal. Initially we should target 20080/070 and the 2016 high at 19970/960.

We are oversold and so close to strong support at 20280/270 that it is always possible we have already bottomed. Minor resistance at last week's low of 20388 then stronger resistance at 20430/440. If we continue higher a good chance of a high for the day at 20500/510 but shorts need stops above 20570. A break higher sees 20510/500 act as support to target resistance at 20630/640.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.