Nasdaq failed at key resistance at the 200 day moving average at 7055/60
|Emini SP 500 _ Nasdaq March contract
Emini S&P can target 2755, 2765 & 2772/74. On further gains look for 2786/90, perhaps as far as 2805/10.
Support at 2745/40 but a break below 2735 risks a slide to support at 2722/20.
Nasdaq failed at key resistance at the 200 day moving average at 7055/60 & bottomed exactly at the first target of 7010/05. A low for the day very possible at 6960/50 but longs need stops below 6935. Further losses risk a test of the 100 day moving average at 6870/65.
200 day moving average has risen to 7065/70 so bulls need a break above 7080 for a strong buy signal.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.