E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – August 27, 2015 Forecast

September E-mini NASDAQ-100 Index futures are expected to open sharply higher based on the pre-market trade.

Based on the current upside momentum, the first target is a short-term Fibonacci level at 4319.50. This is followed closely by a pair of downtrending angles at 4349.00 and 4373.00.

The daily chart opens up over 4373.00. Taking out this price could trigger a rally into the next downtrending angle at 4461.00.

The next targets over 4461.00 are a pair of downtrending angles at 4501.00 and 4517.50.

On the downside, the first support is a minor 50% level at 4240.75. This is followed by a minor 50% level at 4197.25.

The nearest support cluster is a combination of uptrending and downtrending angles at 4143.00, 4125.50 and 4117.00.

Today’s price action will be momentum driven as investors attempt to take back all of the week’s losses. Last week’s close was 4200.75. This price could become a pivot the rest of the week.