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
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
