Emini Dow Jones: Bulls need a sustained break above 30000
|Emini Dow Jones – Nasdaq
Emini Dow Jones December edging slowly lower from 30000 in overbought conditions towards strong support at 29050/29000.
Nasdaq December volatility is decreasing & we are establishing a sideways range exactly as predicted.
Daily Analysis
Emini Dow Jones holding minor resistance at 29400/430 targets 29200 before strong support at 29050/29000. Try longs with stops below 28900. A break lower; targets 28650/600 then a buying opportunity at 28450/400, with stops below 28300.
Minor resistance at 29570/610. Above 29630 allows a recovery to 29800/820. Obviously bulls need a sustained break above strong resistance at 30000. Above 30100 look for 30220/250 & 30400/450.
Nasdaq bounced from just below 11880/840 to target minor resistance at 11925/960 then strong resistance at 12050/090. Try shorts with stops above 12120. A break higher is a short term buy signal targeting 12250/270 before a retest of the double top high at 12410/465. Shorts at 12050/090 target 11990/960 then 11900/860. Cover any remaining shorts at the lower end of the short term range at 11840/800. There is a buying opportunity at 11700/600 with stops below 11550. A break below lower is a sell signal targeting 11500/450 & 11350/300.
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