Technical analysis applied to E-Mini Nasdaq 100 daily chart shows a neutral trend within a strong bullish short term trend.
E-Mini Nasdaq 100 February 27, 2017 close was not far from session highs at 5347,50 (+0.08%). Technical analysis applied to the daily chart shows a neutral trend within a strong bullish short term trend. For today trading session the forecast is for prices movements between support and resistance levels. The major oscillators confirm the positive trend, but for now no bullish or bearish signals are triggered.
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Simple Moving Average (SMA)
Quotes are above the 14 days moving average (SMA value is 5296.07). The short term view is strongly bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
E-Mini Nasdaq 100 daily chart shows a decrease in volumes compared to the previous day.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 27/02/2017.
Performance: 7 trading days= +0.41% – 15 trading days= +3.30% – 30 trading days= +6.10%
Resistance levels: R1= 5359 – R2= 5370.25 – R3= 5399.5
Pivot Point: 5341
Support levels: S1= 5329.75 – S2= 5311.75 – S3= 5282.5
Buying opportunity above 5359.75 targets minor resistance at 5380.75 and perhaps as far as strong resistance at 5393.5, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 5427.25.
Selling opportunity below 5333 targets minor support at 5311.25 and perhaps as far as strong support at 5297.25, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 5262.