Dow Jones Futures Technical Analysis and Forecast
- Recent Performance: The Dow Jones Futures (YM1!) has experienced a significant sell-off, moving out of the upper trendline boundary of the long-term channel.
- Past Analysis Point: A previous recommendation was made near the red arrow, indicating an expected rise towards the upper channel line.
- Current Position: Despite my expectations (marked by the blue “X”), the price reversed before reaching the anticipated resistance area, showing even a gerate bearish force.
- Support and Resistance: Key support is identified around 38,000, with potential resistance at 40,000 if the price attempts a recovery.
- Market Outlook: Traders should watch for consolidation within the channel or further breakdown below current levels, indicating more downside potential.
Stay updated with our latest technical analysis and forecast for more insights into the Dow Jones Futures movements. For more information, visit ForexLive.com. Trade at your own risk.
This article was written by Itai Levitan at www.forexlive.com.
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