Emini Dow Jones: Bulls need to sustain the break above 30000

Jason Sen DayTradeIdeas.co.uk

Emini Dow Jones – Nasdaq

Emini Dow Jones December minor negative candle on Wednesday with overbought conditions is likely to signal a more sideways trend in to December.

Nasdaq December bottomed exactly at strong support at 12070/050 & beat strong resistance at 12050/080 to reach 12213.

Daily Analysis

Emini Dow Jones back below 29900 is less positive for today & risks a retest of first support at 29780/750. Downside is expected to be limited in the strong bull trend but below 29650 look for a buying opportunity at 29550/500. Longs need stops below 29400.

Bulls need to sustain the break above 30000. Above 30200 look for 30250 & 30400/450, perhaps as far as 30620/660.

Nasdaq holding first support at 12080/050 re-targets 12150/173 before a retest of 12210/220. A break higher is another buy signal targeting 12250/270 before a retest of the double top all time high at 12410/465.

A break below 12020 risks a slide to 11980/950. Further losses meet strong support at 11850/800.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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