Home Technical Analysis Dow Jones Futures: Breakout on the way

Dow Jones Futures: Breakout on the way

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The Dow Jones Futures has plunged in the previous period and prices are currently stabilizing below SMA50 as seen on the provided daily graph.

DOWJONES-FXCOMMENT-05-06-2015

The minor uptrend line set from February 02 low is under attack along with strong bearish impetus. The bearish movements are supported by the negative divergence on MACD traditional alongside bearish sign on its histogram

From here, we see chances for achieving breakout below the trend line, chiefly targeting 17615.00 regions followed by 17455 main support.

Only trading above 18090.00-yesterday’s high- would give us a rational reason for concern.

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Amir El-Araby Co-Founder & Chief Global Strategist at FxComment.com, with 17 years’ experience in the technical analysis studies for FOREX, Commodities and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of ESTA (Egyptian Society of Technical Analysts). Amir is also the official partner of Harmonic Trader (Mr Scott Carney) and the official instructor of harmonic trader association for Arab countries.

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