E-Mini Nasdaq 100: the major oscillators confirm the downward trend

E-Mini Nasdaq 100 future trading session of the 05/01/2016 ends at 4483.75 (-0.46%). An inside bar pattern drawn on daily chart.

E-Mini Nasdaq 100 future trading session of the 05/01/2016 ends at 4483.75 (-0.46%). For intraday trading session the technical view is negative and leaves assume the down-trend continuation. However, we can’t exclude rebounds towards the most significant resistance levels. The major oscillators confirm the downward trend. Marked a fourth consecutive negative trading session. We suggest to monitore today closing. An inside bar pattern drawn on daily chart. So for today trading session the forecast of price movements is between support and resistance levels.

Mini NASDAQ100

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Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 4587.91). 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: 05/01/2016.

Performance: 7 trading days= -2.76% – 15 trading days= -1.68% – 30 trading days= -4.11%

Resistance levels: R1= 4518.75 – R2= 4553.5 – R3= 4619
Pivot Point: 4488
Support levels: S1= 4453.25 – S2= 4422.5 – S3= 4357


DAILY TRADING SIGNALS

Buying opportunity above 4494, targets minor resistance at 4511.5 and perhaps as far as strong resistance at 4522.25, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 4550.5.

Selling opportunity below 4471.75, targets minor support at 4453.25 and perhaps as far as strong support at 4441.5, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 4412.