23 June 2017 (9:18 AM EDT)
U.S. index futures are indicating a mixed, volatile and range bound session in U.S. markets in this last session of the week.
European markets are already trading negative and going by chart patterns, Dow Jones looks in trouble as the index closed near its day’s low in previous session.
As we had discussed yesterday, Dow Jones has a support zone between 21,400- 21,380. If the index falls below this zone, then it may trade further down to lower support levels of 21, 300- 21,270 or 21,200. In that case, last week’s positive breakout when it had hit 21,500, will prove to be a false breakout.
If, however, this mega index survives above the support of 21,400 then its current range will remain intact.
Wait and watch how Dow Jones behave, then trade with the short term trend.
Good luck, enjoy the session!