Emini Dow Jones – Nasdaq
Emini Dow Jones JUNE trades almost exactly the same range as Tuesday.
Nasdaq JUNE 2 week trend line support at 12760/730. Longs need stops below12700.
Daily analysis
Emini Dow Jones June has minor support at 32300/250 but below risks a slide to32100/050. Longs need stops below 32000. A break lower targets 31900/850.
First resistance at 23650/700 held perfectly again yesterday. A break above 32750opens the door to 32850/870, perhaps as far as 30000/33050 before a retest of theJune contract high at 33116.
Nasdaq tests the lower end of the range at 12760/730. A break below 12700 targets12600 / 12550. If we continue lower look for 12430 / 12400 before a retest of theMarch low at 12225 / 12200.
Longs at 12760/730 target 12910/950. A break above 13000 tests 6 week trend lineresistance at 13100/130. A break higher tests last week’s high at 13285/300.
Chart
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
GBP/USD recovers to 1.3300 ahead of UK Retail Sales data
GBP/USD trades with a positive bias for the third straight day on Friday and hovers near the 1.3300 mark in the European morning on Friday. Traders digest the BoE and Fed policy decisions, awaiting the UK Retail Sales data for further trading impetus.
USD/JPY keeps BoJ-led losses below 142.50, Ueda's presser eyed
USD/JPY remains in the red below 142.50 after the Bank of Japan announced on Friday that it maintained the short-term rate target in the range of 0.15%-0.25%, as widely expected. Governor Ueda's press conference is next in focus.
Gold consolidates weekly gains, with sight on $2,600 and beyond
Gold price is looking to build on the previous day’s rebound early Friday, consolidating weekly gains amid the overnight weakness in the US Dollar alongside the US Treasury bond yields. Traders now await the speeches from US Federal Reserve monetary policymakers for fresh hints on the central bank’s path forward on interest rates.
Shiba Inu is poised for a rally as price action and on-chain metrics signal bullish momentum
Shiba Inu remains strong on Friday after breaking above a symmetrical triangle pattern on Thursday. This breakout signals bullish momentum, further bolstered by a rise in daily new transactions that suggests a potential rally in the coming days.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.