Yahoo Finance E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – October 9, 2017 Forecast
December E-mini NASDAQ-100 Index futures are expected to open higher based on the pre-market trade. Investors seem to be unfazed by renewed talk of a North Korean missile launch. Traders also appear to be taking advantage of the thin trading conditions associated with today’s U.S. bank holiday.
Daily Technical Analysis
The main trend is up according to the daily swing chart. However, the index is still in the window of time for a potentially bullish closing price reversal top.
The key level to watch is Friday’s close at 6064.25. A trade under this price will indicate the return of sellers. A close under this price will form the reversal top.
Forecast
Today’s trade is all momentum. So it’s going to continue to drive prices higher, or it’s going to stop and sellers are going to take over. So watch for a strong uptrend or a closing price reversal top.
The market is sailing pretty far from support so if it does turn south, we’re likely to see an acceleration to the downside. The nearest uptrending support angle comes in at 6002.00.
This article was originally posted on FX Empire
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