The NASDAQ 100 futures market rose after initially falling on Tuesday in order to press up against the 2685 level. We have been talking about the 2700
The NASDAQ 100 futures market rose after initially falling on Tuesday in order to press up against the 2685 level. We have been talking about the 2700 level for several days now, and it is obvious resistance. We believe that this next move will be based upon what happens with the Federal Reserve and its meeting later today.
With this being said, as long as the Federal Reserve is willing to stay very loose with its monetary policy, we think this market will eventually break the 2700 level. However, we need to see a daily close above that level in order to start buying.
NASDAQ 100 Index Futures Forecast December 12, 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.
