NASDAQ 100 Futures Forecast October 25, 2012, Technical Analysis

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The NASDAQ 100 Futures market had a significant fall yet again on Wednesday in order to test the 2650 level for support. This begins an area that we think should be rather supportive, and extends all the way down to the 2500 level. Because of this, we think that there will eventually come a supportive candle in which we want to buy this market, but we do not see that this moment in time. With this in mind, we are being patient and waiting for the right set up. We will use daily candles in order to make these decisions, as opposed to jumping in on a short-term chart which can lead to a lot of whipsaws.

 

NASDAQ 100 Futures Forecast October 25, 2012, Technical Analysis

NASDAQ 100 Futures Forecast October 25, 2012, Technical Analysis

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About:FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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