Dow jones industrial average future is trading now at 22790 with gain. In month of October we saw strong opening for Dow above 22175 support and on upside 22650 and then 22900 were major resistance zone for month as well as my technical targets. Out of which 22650 target is done and now Dow future is inching towards 22900 zone. If gives breakout above 22900 zone then once again this US major index will enter super bullish trend for targets 23150 to 23370 levels.
For future traders, Dow jones future outlook above 22650 remain strong bullish and trading strategy will remain buy on dips. On upside 22900 was next target zone and above it expect super bullish trend and targets up to 23150 to 23370 in this month.
Dow jones daily chart set up showing, prices are in strong bullish trend with strong buying momentum. On downside 22740 is 5 days average level and 22525 is 20 days average level and next support zone on daily chart. Below that next major support is at 22230 which is 50 days average level and last support of this short term uptrend. Daily chart RSI is at 80 with strong buy signal and entering overbought zones. While MACD is at 183 and with bullish patterns.
From long term view, Dow Future hit 2017 my investment target of 21350 in month of June and now heading for next investment target of 22940 and look like might achieve this target in month of October. Weekly closing above 22940 means super bullish trend for Dow Future in 2017 with super bullish targets 25890 and 27450.