Dow - Room for Upside

The giant has awake last night with breakup two weeks range from confluence zone A with two fibonacci spirals overlapping 26050. The higher high setup will likely to bring YM1! to first target 26431 in the short term. Dow is not far from making historical new high, and that will see market approaching second target, trader please be cautious when price approaching historical high 26684.

E-mini Dow Sep Futures will be expired on 21 September. Open interest in December seen increasing. Sep/Dec spread around 25 points.

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Latest development between China and US have temporary brought down YM1!, the current price had seen double top at 26200. Dow is expect to trade between 25800 to 26200 range (confluence zone A).

Current price structure remain correction while trend remain bullish.

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Price reached first target in 14 Sep post after strong recovery from trade war concern. The current impulsive swing heading to 26718 (230 points from now).

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Dow reached second target and retraced on last Friday. Please refer to latest post for correction projection.

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Current correction size between 26677 to 26588, Dow up trend remain intact.