E-Mini Nasdaq 100 future daily chart shows a series of 3 consecutive higher highs and an increase in volumes compared to the previous day.
E-Mini Nasdaq 100 future close slightly higher. Tuesday 29 trading session ends at 4875 (+0.29%). Marked a series of 3 consecutive higher highs. Technical analysis applied to the daily chart shows a mildly positive trend inside a strong bullish main trend. For today trading session the forecast of price movements is between support and resistance levels. The major oscillators confirm the actual trend with positive values.
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Simple Moving Average (SMA)
Prices are above the 14 days moving average (SMA value is 4815.59). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Daily chart shows an increase 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: 29/11/2016.
Performance: 7 trading days= +0.43% – 15 trading days= +1.13% – 30 trading days= +0.93%
Resistance levels: R1= 4899.25 – R2= 4923.75 – R3= 4974
Pivot Point: 4873.50
Support levels: S1= 4849 – S2= 4823.25 – S3= 4773
Buying opportunity above 4886.25 targets minor resistance at 4905.25 and perhaps as far as strong resistance at 4917, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 4947.75.
Selling opportunity below 4861.75 targets minor support at 4841.75 and perhaps as far as strong support at 4829.25, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 4797.