Dow Jones Futures Point to Positive Opening Ahead of ECB

Wall Street index futures contracts in premarket point for a slightly positive start in the cash market later today. The Dow Jones adds 0.06% at 26,819. The Nasdaq futures currently trading 0.46% higher at 7,9386, while the S&P 500 futures trading 0.13% higher at 3,009. Investors await Vice President Mike Pence to deliver a speech on China and ECB which will conclude its October policy meeting, with no significant changes expected. Interest rates expected to remain on hold in the upcoming months. Q3 earnings season continues today with results from Amazon, American Airlines Group and Visa.

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Dow Jones Futures Technical Analysis

Dow futures trade cautiously higher ahead of ECB decision and the earnings release while keeping the bullish short term momentum. On the upside the first resistance stands at 26,849 today’s high and then at 27,080 the high from October 17th. A break above that zone will open the way for a move up to all-time highs at 27,399. On the flip side, Dow Jones futures first support stands at 26,751 today’s low and then at 26,601 the 100-day moving average, a break below might accelerate the move to the next support level at 26,127 and the 200-day moving average. The technical analysis outlook for Dow Jones is bullish and is safe for bulls as far as the index trades above 26,500.

European equity indices trading higher, the DAX 30 is 0.62 percent higher at 12,877 while CAC 40 in Paris trades 0.51 percent higher at 5,682. The FTSE 100 is 1.01 higher at 7,333.

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Dow Jones Futures Point to Positive Opening Ahead of ECB
Dow Jones Futures Point to Positive Opening Ahead of ECB

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