E-mini Dow Jones Industrial Average (YM) Futures Analysis – October 10, 2017 Forecast
December E-mini Dow Jones Industrial Average futures are called higher based on the pre-market trade. The market is being supported by higher oil prices, but gains are being limited ahead of speeches from Minneapolis Fed President Neel Kashkari and Dallas Fed President Robert Kaplan.
Daily Technical Analysis
The main trend is up according to the daily swing chart. The Dow is also in the window of time for a potentially bearish closing price reversal top. A trade through 22751 will signal a resumption of the uptrend. A close below 22711 will form the closing price reversal top.
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Daily Forecast
A sustained move over 22751 will signal the presence of buyers. The nearest upside target is an uptrending angle at 22878. Overtaking this angle will put the market in an extremely bullish position.
A trade through 22676 will be a sign of weakness. If this leads to an acceleration to the downside then the next targets will be a pair of uptrending angles at 22526 and 22483.
The Dow is being driven higher by momentum so when the momentum stops, the selling will begin.