Emini Dow Jones December retests and holds last week’s high at 30000
|Emini Dow Jones – Nasdaq
Emini Dow Jones December retests & holds last week's high at 30000 in overbought conditions which risks a small double top sell signal.
Nasdaq December volatility is decreasing & we are establishing a sideways range. We held minor resistance at 12050/090 this week to hit the downside target of 11880/840.
Daily Analysis
Emini Dow Jones meets 200 hour moving average support at 29350/320.A break below 29300 risks a slide to strong support at 29050/29000. Try longs with stops below 28900.
Minor resistance at 29560/590. Above 29600 allows a recovery to 29800/820. Obviously bulls need a sustained break above 30000. Above 30100 look for 30220/250 & 30400/450.
Nasdaq holds the 11880/840 target but if we continue lower today look for a buying opportunity at 11700/650 with stops below 11600. A break below lower is a sell signal targeting 11500/450 & 11350/300.
Minor resistance at 11925/960 then strong resistance at 12050/090.
Chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.