Emini Dow Jones: Below 27600 risks a slide to minor support at 27540

Jason Sen DayTradeIdeas.co.uk

Emini Dow Jones and Nasdaq December futures

Emini Dow Jones beat strong resistance at 27640/660 to top 18 ticks from the next target of 27745/765.

Nasdaq we wrote: holding above 8235/25 allows a recovery to 8275/80. Expect strong resistance at 8305/10.

Longs at 8235/25 worked perfectly on the expected recovery to 8305/10 for a potential 70 ticks profit on the day.

Daily Analysis

Emini Dow Jones holding above 27640/660 targets 27745/765 then strong resistance at 27800/820. Shorts need stops above 27860. A break higher targets 27920 then 28000/010.

Below 27600 risks a slide to minor support at 27540/520. On a break below 27490 look for 27420/400. Further losses retest this week's low at 27322/312. A break below 27300 meets a buying opportunity at 27230/200 with stops below 27170.

Nasdaq holding strong resistance at 8305/10 as I write. A break above 8320 however targets a selling opportunity at 8345/55 with stops above 8365. A break higher targets 8390/99. A break above 8410 can retest the all time high at 8448/58.

Holding strong resistance at 8305/10 targets 8280/75 & support at 8235/25. Longs need stops below 8220 for a test of support at 8190/80. A break below 8170 however targets 8140/35.

Author

Jason Sen

DayTradeIdeas.co.uk

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