Dow Jones Futures Pause, S&P 500 Futures Need Breakout Above 2012.00
ICN.com | Oct 13, 2015 05:49AM ET
Dow:
The low liquidity conditions that have been seen in the market due to the vacations caused some kind of pause in futures. However, the overall movements have been ended in green.
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Dow is still stable above 16875.00-previous broken resistance turned into support and that is why we will be bullish this week after clearing 50% Fibonacci, while coming above 17145.00 will confirm and accelerate.
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On the downside, coming below 16875.00 will weaken the bullish prospects and breaching 16775.00 -50%- will cancel out.
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Support: 16875.00- 16775.00-16630.00
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Resistance: 17050.00-17145.00-17260.00
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Direction: Bullish
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SP500:
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SP500 futures needs just a breakout above 2012.00 to affirm the bullishness that we suggested with the opening of this week.
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RSI14 remains positive despite the mild weak sign on it, while ADX is positive and that hints at clearing the aforesaid resistance.
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We will be bullish as far as 1978.00 holds with a daily closing.
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Support: 1993.00-1978.00-1963.00.
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Resistance: 2012.00-2025.00-2030.00
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Direction: Bullish
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