YM Dow Update

The YM took a little hit in the US session from inside the target zone 17,000-17,500. Admittedly, it’s a bit of a wide zone, but wave B’s are notorious monsters to pinpoint their ends with. In any case whether we get another swing higher to complete things a bit closer to the top of the range or not, the 17,700-800 remains important resistance for the 14,800-14,400 targets to remain in play.

As the monthly chart shows, whilst there may be some playing around for a couple of thousand points, the larger story has plenty of upside should the 13,000-13,500 area hold as support.YM15-daily-oct14YM15-mthly-oct14

 

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