Dow Jones futures before opening bell

• The index on breaking the support went below 10200 as described below.

• Dow Jones Futures is trading in a falling wedge in its four hour chart.
• The direction for the next big move will be decided soon. 
• Breaking of the upper trend line can take the index close to 10600 levels.
• If the support line breaks Index will go below 10200.

Nifty futures month chart

• Nifty has been in consolidation mode for more than 11 months now.
• Today nifty has broken the monthly resistance line
• Big profits for the bulls can be expected only if the index stays above the resistance line.
• If the index falls below the resistance line correction will follow.
• Staying above the resistance line should give the expected result after a consolidation breakout. In this case the consolidation range is more than 500 points. But the breakout area is crucial.

Nifty daily chart analysis

NIFTY MONTH CHART

• Nifty is close to breaking the trading range that the index has been trading for the past five weeks.
• The second chart shows how the index reversed from below 20 SMA consistently.
• Third chart shows the month chart close to breaking an important resistance line that can push the index higher. 
• NIFTY DAY HIGH BREAKOUT TRADE
  

Dow Jones analysis after closing bell

DOW JONES FUTURES

• Dow Jones industrial average closed up 9.69 points or 0.09% up.
• Index closed above the 50 day moving average again and below its 20 day moving average. 
• The current trading range is between the fib ratio of 23.6% and 38.2% of the indexes rise from 9614 to 10719.
•  Dow Jones futures shows 2 similar trading day's. today's breakout was resisted near yesterday's high and again like yesterday the index lost all its gains.
• AT&T TRIANGLE PATTERN UPDATED