Daily Forecast - 07 October 2015
Emini Dow Jones December contract
Emini Dow Jones holding below 16,690/700 as I write adds pressure to target 16,600 then support at 16,560/555. An initial bounce from here is possible but with the outlook much less positive be ready to sell a break below to target 16,510/505 then support at 16,440/430. A good chance of a low for the day but longs need stops below 16,400.
Above 16,700 may allow a retest of 16,760. Remember gains are likely to be limited, but a break higher could target 16,800/810. Watch for a high for the day here but just be aware that a break higher could target short term trend line resistance & September highs at 16,930/936 for an excellent selling opportunity.
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