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E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Plenty of Room to Downside if 7666.00 Pivot Fails

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Update time : 2020-11-23 00:02:00

June E-mini NASDAQ-100 Index futures bucked the trend at the futures and money markets ought shut higher during the council above Wednesday. We’re no going ought read into this also much during total ships originate with the sea. at other words, if the benchmark S&P 500 Index and the gloomy chip Dow become lower, the June E-mini NASDAQ-100 Index futures agreement is more than apt ought follow them lower. slim pre-holiday trading possibly led ought the unusual close.

At 22:22 GMT, June E-mini NASDAQ-100 Index futures are trading can 7689.25, down 0.50 or -0.01%.

Daily rock table Technical Analysis

The capital trend is up according ought the daily rock chart. A business across 7733.50 will signal a resumption of the uptrend. The just is at no spot ought change the capital trend ought down, still during it is interior the window of time during a potentially bearish closing allowance reversal top.

The marginal trend is too up. A business across 6598.75 will change the marginal trend ought down. Another marginal bottom comes at can 7575.75.

The short-term mountain is 7598.75 ought 7733.50. Its 50% flat or pivot can 7666.00 is controlling the near-term order of the index.

The intermediate-term mountain is 7276.00 ought 7733.50. if the marginal trend changes ought down then its retracement district can 7504.75 ought 7450.75 will cost the next downside terminate zone. during the capital trend is up, buyers are apt ought respond above a examination of this district during it is too a estimate area.

The capital mountain is 6965.75 ought 7733.50. Its retracement district can 7349.50 ought 7259.00 is the capital downside terminate and estimate zone.

Daily rock table Technical Forecast

Based above Wednesday’s allowance code and yesterday’s shut can 7689.75, the order of the June E-mini NASDAQ-100 Index is apt ought be determined by merchant reaction ought the pivot can 7666.00.

Bullish Scenario

A sustained influence above 7666.00 will represent the presence of buyers. if this generates enough upside momentum then emerge during a examination of yesterday’s high can 7733.50. Taking out this flat could trigger a meeting into the October 3, 2018 capital top can 7767.00.

Bearish Scenario

A sustained influence below 7666.00 will signal the presence of sellers. This could trigger an acceleration into the marginal bottoms can 7598.75 and 7575.75. Taking out these levels will change the marginal trend ought down. This could trigger an acceleration ought the downside with the next terminate the intermediate retracement district can 7504.75 ought 7450.75.

This article was originally posted above FX Empire

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