The NASDAQ 100 futures had a relatively columned day on Friday as the markets essentially one sideways. However, we are bumping up against the 2600
The NASDAQ 100 futures had a relatively columned day on Friday as the markets essentially one sideways. However, we are bumping up against the 2600 support area, and as a result we did see a little bit of a hammer form. We have been consolidating between 2620 700 for some time now, and as a result looks like we are not ready to break out of this range. With this being said, we are willing to buying a break of the top of Thursday’s candle as it is a more clearly defined hammer. Alternately, if we managed to break down below the 2600 level on a daily close we are more than willing to start selling as the NASDAQ should drop from there.
NASDAQ 100 Futures Forecast December 31, 2012, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
