DJIA Futures Are Still Within A Range
From around mid-June, DJIA futures have been moving sideways, trading roughly between the 33859 and 34889 levels. Overall, the index remains on an uptrend, while trading above a medium-term tentative upside support line drawn from the low of March 15th. Although there are signs pointing towards further upside, a break of the upper side of the aforementioned range would be required first.
A break above the 34889 barrier would confirm a forthcoming higher high, possibly clearing the path towards higher areas. Our next potential resistance target could be near the 35412 hurdle, which is the highest point of April of 2022.
In order to shift our attention to some lower areas, at least in the near-term within the previously discussed range, a drop below the 34495 zone would be required. This way we may aim for the 50-day EMA on our daily chart, or for the 33859 area.
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A break above the 34889 barrier would confirm a forthcoming higher high, possibly clearing the path towards higher areas. Our next potential resistance target could be near the 35412 hurdle, which is the highest point of April of 2022.
In order to shift our attention to some lower areas, at least in the near-term within the previously discussed range, a drop below the 34495 zone would be required. This way we may aim for the 50-day EMA on our daily chart, or for the 33859 area.
Disclaimer:
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
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