E-Mini Nasdaq 100: the bears are in control, selling opportunity below 4119.5

E-Mini Nasdaq 100 technical view is strongly negative but we can’t exclude rebounds towards the most significant resistance levels.

On the 27/01/2016 E-Mini Nasdaq 100 future close was at 4127 (-2.36%). The main trend is down on the daily chart, the bears are in control. The negative value of many leading oscillators indicates infact a downward trend. Even if the technical view is strongly negative we can’t exclude rebounds towards the most significant resistance levels.

E-Mini Nasdaq100

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
Strong bearish signal: the price crosses below the 14-day moving average (SMA value is 4196).  However, the sell signal should be confirmed with increasing volume.
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: 27/01/2016.

Performance: 7 trading days= -0.42% – 15 trading days= -3.78% – 30 trading days= -10.30%

Resistance levels: R1= 4196.5 – R2= 4266 – R3= 4382.75
Pivot Point: 4149.25
Support levels: S1= 4079.75 – S2= 4032.5 – S3= 3915.75


DAILY TRADING SIGNALS

Buying opportunity above 4145.25 targets minor resistance at 4162 and perhaps as far as strong resistance at 4173.25, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 4200.75.

Selling opportunity below 4119.5 targets minor support at 4104 and perhaps as far as strong support at 4093.25, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 4066.25.