Emini Dow Jones: Gains Likely To Be Limited In The Bear Trend

Published 03/05/2018, 07:15 AM
Updated 07/09/2023, 06:31 AM

Emini Dow Jones Weekly Chart

Emini Dow Jones lower as predicted to bottom just 4 ticks above the most important support of the day at 24200/190. You're welcome!! A decent bounce takes us to first resistance at 24580/590. Gains are likely to be limited in the bear trend but we are oversold short term. If we continue higher look for 24690/699 before a selling opportunity at 24800/820.

Failure to beat first resistance at 24580/590 keeps the pressure on for minor support at 24440/430. Below 24400 targets 24340/330 before the most important support of the day at 24200/190. Longs need stops below 24120. A close below 24200 tonight would be a very important longer term sell signal. A crash is certainly possible if this happens but certainly a significant bear trend would be expected to develop. Next target and support is 24010/23990. On a break below here all hell breaks loose as we look for 23860/830, 23800, 23670/660, 23555 and 23345/325.

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