E-Mini Nasdaq 100 future: expected further prices declines

For intraday trading session E-Mini Nasdaq 100 future technical view is negative and leaves assume further prices declines. The major oscillators confirm the downward trend.

E-Mini Nasdaq 100 future Tuesday close was at 4724 (-0.83%). For intraday trading session the technical view is negative and leaves assume further prices declines. However, we can’t exclude rebounds towards the most significant resistance levels. The major oscillators confirm the downward trend. An inside bar pattern drawn on daily chart. So for today trading session the forecast of price movements is between support and resistance levels.

View the interactive chart on ProRealTime.com

E-Mini Nasdaq 100 prices declines

Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 4774.48). The short term view is therefore slightly bearish, however for today trading session we can’t exclude rebounds towards the most significant resistance levels.
Volumes
Daily chart shows volume is higher 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: 13/09/2016.

Performance: 7 trading days= -1.49% – 15 trading days= -1.30% – 30 trading days= -0.09%

Resistance levels: R1= 4758.25 – R2= 4792.5 – R3= 4858
Pivot Point: 4727
Support levels: S1= 4692.75 – S2= 4661.5 – S3= 4596


Buying opportunity above 4743.75 targets minor resistance at 4763.25 and perhaps as far as strong resistance at 4776, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 4808.

Selling opportunity below 4713.25 targets minor support at 4693.25 and perhaps as far as strong support at 4680.5, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 4648.