E-Mini Nasdaq 100: bullish the short term view, price above SMA

Technical analysis applied to the daily chart shows a bullish trend. Marked a sixth consecutive positive trading session.

On the 18/03/2016 E-Mini Nasdaq 100 future closing price was unchanged (+0.04%) at 4394.75. Technical analysis applied to the daily chart shows a bullish trend even if for today trading session the forecast of price fluctuations is between support and resistance levels. The major oscillators confirm the positive trend. Marked a sixth consecutive positive trading session. We suggest to monitore today closing. An inside bar pattern drawn on daily chart.

View the interactive chart on ProRealTime.com

 bullish E-Mini NASDAQ100 Future

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 4331). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 18/03/2016.

Performance: 7 trading days= +2.56% – 15 trading days= +4.61% – 30 trading days= +10.86%

Resistance levels: R1= 4411.75 – R2= 4428.75 – R3= 4463.75
Pivot Point: 4393.75
Support levels: S1= 4376.75 – S2= 4358.75 – S3= 4323.75


Buying opportunity above 4404.75 targets minor resistance at 4422 and perhaps as far as strong resistance at 4432.5, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 4460.25.

Selling opportunity below 4383 targets minor support at 4364.75 and perhaps as far as strong support at 4353.5, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 4324.5.