Emini Dow Jones: Bulls Appear To Be Losing Short Term Control
Jason Sen | May 19, 2017 06:12AM ET
Emini Dow Jones shorts from selling opportunity at 20725/735 work perfectly as we trade below 20660/670. Look for first support in the 20590/560 area. Below here keeps the pressure on for the next target of 20480/460 which now includes the rising 100 day moving average so will be important again. A break below 20400 however targets the April low at 20320/310. We have strong support from here down to the 23.6% Fibonacci 20280/270.
Bulls appear to be losing short term control and must push prices through the low last week 20760 for any chance of staying in the game. Above minor resistance at 20790/800 allows a recovery to towards 20850/860. Gains are likely to be limited but above here means we could recover all of Wednesday's losses at 20925/935.
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