Dow Futures near key VST support at 12,273

US futures took a hit last night due to the escalation of events in Libya, and as can be seen from the CBOT Dow mini chart below, there is key support at 12.273, just a few points below the current price of 12,277.

With Libya just walking up (the Arabs tend to wake a tad late) the risk of a breakdown here is high, and could see a swift pullback to 12,230 or so.

We will be watching for signs of strength though, and if the 12,273 support holds over the first few hours of the European session, then 12,310 will be the initial rebound target.

For those who like a punt on the TFEX SET 50 futures, Dow and S&P minis offer very technical 24hrs action, and in our view are easier to trade than the crazy Kospi futures and indeed Hang Seng



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