FXEMPIRE
All
Ad
Advertisement
Advertisement
James Hyerczyk
Add to Bookmarks
E-mini NASDAQ-100 Index

March E-mini NASDAQ-100 Index futures are trading at their high of the session as we approach the last hour of cash market trading on Wednesday. Earlier in the session, the index rallied from nearly a 2% loss to post a new all-time high.

The index started to rebound shortly before the cash market opening but then extended gains at about 16:00 GMT after President Donald Trump said there were no American casualties in the overnight Iranian missile strikes and that Tehran appeared to be standing down, easing concerns of an all-out conflict in the Middle East.

Advertisement
Know where the Market is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

At 21:29 GMT, March E-mini NASDAQ-100 Index futures are trading 8971.00, up 118.00 or +1.34%.

Daily March E-mini NASDAQ-100 Index

Daily Technical Analysis

The main trend is up according to the daily swing chart. The trend turned down earlier in the session when sellers took out the swing bottom at 8723.00 then turned up when buyers drove the index through the previous all-time high at 8907.25.

Advertisement

Short-Term Outlook

The only level traders should be concerned about into the close is 8957.25. This is an uptrending Gann angle moving at a rate of 32 points per day from the 8189.25 main bottom.

A sustained move over the strong side of the angle at 8957.25 will put the index in an extremely bullish position.

Due to Wednesday’s volatility, the closest support is 8678.00. A trade through this level will change the main trend to down. This could trigger a break into a pair of uptrending Gann angles at 8573.25 and 8550.25.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker