E-Mini Nasdaq 100: new bearish technical picture, support at 4298.25

E-Mini Nasdaq 100 friday trading session ends at 4324. New bearish technical picture on daily chart, first support level at 4298.25.

E-Mini Nasdaq 100 future close slightly lower. Friday session ends at 4324 (-0.25%). Marked a third consecutive negative trading session, new bearish technical picture drawn on daily chart (high2 > high1, high1 > high, low2 > low1, low1 > low, close2 > close1, close1 > close). Within a bearish short term trend, daily technical overview is neutral and leaves assume price fluctuations between support and resistance levels. We suggest to watch today closing. The major oscillators confirm the short term trend.

View the interactive chart on ProRealTime.com

E-Mini Nasdaq100 support level

Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 4354.96). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance 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: 13/05/2016.

Performance: 7 trading days= +0.55% – 15 trading days= -3.31% – 30 trading days= -3.92%

Resistance levels: R1= 4355 – R2= 4386.25 – R3= 4443
Pivot Point: 43293.5
Support levels: S1= 4298.25 – S2= 4272.75 – S3= 4216


Buying opportunity above 4337.75 target minor resistance at 4347 and perhaps as far as strong resistance at 4355, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 4378.5.

Selling opportunity below 4319 target minor support at 4306.5 and perhaps as far as strong support at 4298.25, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 4277.75.