CBOT Dow Minis (YM0Y)
Posting its first half decent correction this year, Dow Futures are but a good day or two away from discarding all current geopolitical risk and marching to fresh multi year highs.
• Dow Minis have a key resistance at 12,220, which if taken out would set up a bullish scenario for a retest of the recent high at worst, and quite possibly an advance to an even loftier level.
• We view 11,980 as key support, and as long as it holds there will be a decent chance of upside.
• If however this support fails, we expect 11,900 or so to be tested promptly, with further support at 11,840.