Nasdaq Futures Price Action analysis for the coming months
Am basing my analysis on the weekly chart using the Bollinger Bands which is the most simple tool to understand
In my analysis, the price action has brought us to a point on the weekly where we are bound to face resistance
around the middle line of the BB - which is the 20 SMA in our case the 20 WSMA. The prices have reversed from
a similar area twice before and also as a concurrence these areas have been near previous areas of interest where
either price has broken out or reversed from acting as resistance and support points at different times.
The prices may give us confirmation signals if they close below the 13000 levels in the current week or next one
from where one can aim to take a short which can take us down to the 11000 levels.
I am not a registered financial advisor and the release is just an expression for educational purposes. Using futures
as a trading instrument is risky and should be done only under proper guidance and with proper risk management.
Please comment on the analysis and contribute with your ideas on the subject
In my analysis, the price action has brought us to a point on the weekly where we are bound to face resistance
around the middle line of the BB - which is the 20 SMA in our case the 20 WSMA. The prices have reversed from
a similar area twice before and also as a concurrence these areas have been near previous areas of interest where
either price has broken out or reversed from acting as resistance and support points at different times.
The prices may give us confirmation signals if they close below the 13000 levels in the current week or next one
from where one can aim to take a short which can take us down to the 11000 levels.
I am not a registered financial advisor and the release is just an expression for educational purposes. Using futures
as a trading instrument is risky and should be done only under proper guidance and with proper risk management.
Please comment on the analysis and contribute with your ideas on the subject