Emini Dow Jones Holding Below 18150/160
Jason Sen | Oct 27, 2016 04:56AM ET
Emini Dow Jones holding below 18150/160 keeps the outlook negative with first support at 18115/105. Below here almost every price is a level to note because we have traded sideways for 6 weeks. My best guess: Support at 18060/040 but below 18020 targets 17980/970. In fact we bottomed exactly here yesterday! However further losses this week would target 17900/890 then a buying opportunity at 17860/850.
First resistance at 18150/160 is key to direction and only a close above is more positive for this week targeting 18210, perhaps as far as 18270/280 before 2 week highs at 18320. This is of major importance, being the 8 month trend line resistance. Shorts need stops above late September highs at 18366.
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