E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – June 20, 2018 Forecast

September E-mini NASDAQ-100 Index futures are expected to open higher based on the pre-market trade. Investors seem to have calmed down after President Trump triggered a sell-off on Tuesday following a threat of additional tariffs on China. Despite the early strength, investors continue to remain on edge which is leading to heightened risk and increased volatility.

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. A trade through 7321.00 will signal a resumption of the uptrend. A trade through 7101.50 will change the main trend to down.

The minor trend is down. A move through 7157.50 will reaffirm the weak minor trend and signal a shift in momentum to the downside.

The minor range is 7321.00 to 7157.50. Its 50% level or pivot is 7239.25.

The main range is 7101.50 to 7321.00. Its retracement zone at 7211.25 to 7185.25 is support.

Another main range is 6855.50 to 7321.00. Its retracement zone at 7088.25 to 7033.25 is another support zone.

Daily Swing Chart Technical Forecast

Based on the early trade, the direction of the September E-mini NASDAQ-100 Index will be determined by trader reaction to the short-term pivot at 7239.25.

A sustained move over 7239.25 will indicate the presence of buyers. This could create the upside momentum needed to overcome 7321.00. This is a potential trigger point for an acceleration to the upside.

A sustained move under 7329.25 will signal the presence of sellers. This could lead to a labored break with additional targets coming in at 7211.25, 7185.25 and 7157.50.

Taking out 7157.50 will signal a shift in momentum to the downside. This could trigger an acceleration to the downside with 7101.50 the next target. A trade though this price will change the main trend to down.

Look for an upside bias today as long as buyers continue to defend 7239.25.