E-Mini Nasdaq 100: buy signal should be confirmed with increasing volumes

Strong bullish signal for E-Mini Nasdaq 100. Quotes crossed above 14-day moving average. The buy signal should be confirmed with increasing volumes.

E-Mini Nasdaq 100 May 22 close was 5702 (+0.88%). New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2). The buy signal should be confirmed with increasing volumes, watch today closing. For intraday trading session the technical view is positive and leaves assume the up-trend continuation. The major oscillators confirm the upward trend, marked the third consecutive positive trading session.

View the interactive chart on ProRealTime.com

E-Mini NASDAQ100 buy signal
Simple Moving Average (SMA)
Strong bullish signal: crossed above the 14-day moving average (SMA value is 5660.30). Today trading session forecast is for further price extensions towards the most significant resistance levels.
Volumes
E-Mini Nasdaq 100 daily chart shows a decrease in volumes compared to 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: 22/05/2017.

Performance: 7 trading days= +0.23% – 15 trading days= +1.10% – 30 trading days= +5.16%

Resistance levels: R1= 5721.25 – R2= 5740.5 – R3= 5796
Pivot Point: 5685
Support levels: S1= 5665.75 – S2= 5629.5 – S3= 5574


Buying opportunity above 5713.5 targets minor resistance at 5736.25 and perhaps as far as strong resistance at 5750.5, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 5787.

Selling opportunity below 5681 targets minor support at 5658.75 and perhaps as far as strong support at 5643.75, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 5608.5.

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