NAS DAQ 100 E-MINI FUTURES (NQ1!), H4 Potential For Bullish Rise

43117 nas daq 100 e mini futures nq1 h4 potential for bullish rise

Type:

Bullish Rise

Key Levels:

Resistance: 12200.5

Pivot: 11719.50

Support: 11394.5

Preferred Case:

On the H4, with price bouncing off the ichimoku cloud and moving in an ascending trendline on the RSI, we have a bullish bias that price will rise from the pivot at 11719.50 in line with the pullback support and 61.8% fibonacci projection. Once we have upside confirmation that price has broken past pivot , we would expect bullish momentum to carry price to the 1st resistance at 12200.5 where the multiple swing high resistance and 78.6% fibonacci projection and 61.8% fiboancci retracement are.

Alternative Scenario:

Alternatively, price may break support structure at the pivot and drop to the 1st support level at 11394.5 in line with the swing low, 78.6% fibonacci retracement and 100% fibonacci projection .

Fundamentals:

No Major News

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% and 68% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Written by Desmond Leong

Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.


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