Emini Dow Jones: Further Losses Target 20670/660
Jason Sen | May 22, 2017 04:39AM ET
Emini Dow Jones failure to beat strong resistance at 20850/860 targets first support at 20745/735. We should at least pause here if not bounce but further losses target 20670/660. If we continue lower look for good 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.
Above minor resistance at 20790/800 re-targets strong resistance at 20850/860. Gains are likely to be limited but above here means we could recover all of Wednesday's losses up to 20925/935.
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