Emini Dow Jones December contract
Emini Dow Jones bear trap as we spike below 24000 then rocket. Holding above first support at 24430/400 targets 24560/590 then strong resistance at 24730/760. Watch for a high for the day. Shorts need stops above 24800. A break higher targets 24970/25000 before very strong resistance at 25050/100. Try shorts with stops above 25200.
Minor support at 24230/210 but below 24200 risks a slide to 24090/070 before the low at 23900/890. A break below here is a sell signal targeting 23800/750. Below 23700 look for important support at 23480/450.
Nasdaq holding minor support at 6658/55 meets strong resistance at 6676/79. If we continue higher look for 6693/98. Above 6715 targets 6730/33, 6745/48 & perhaps as far as strong resistance at 6750/55. Shorts need stops above 6775.
Below 6650 risks a slide to 6635/30 then 6610. Downside is expected to be limited but below 6600 look for 6560/55 & 6540/30 before 6505/6495. Watch important support at 6460/50. A break below here is a longer term sell signal.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
EUR/USD drops below 1.0800 after German Retail Sales data
EUR/USD has come under fresh selling pressure and trades below 1.0800 after the data from Germany showed that Retail Sales declined by 1.9% MoM in February. Resurgent US Dollar demand is adding to the downside in the pair. US data are next in focus.
GBP/USD stays weak near 1.2600 amid market caution
GBP/USD remains defensive near 1.2600 in European trading on Thursday. The hawkish tone from Fed Governor Christopher Waller keeps the US Dollar afloat amid a cautious trading environment ahead of key US data releases and the Good Friday trading lull.
Gold price bulls keenly await US PCE Price Index on Friday before placing fresh bets
Gold price (XAU/USD) continues with its struggle to make it through the $2,200 mark on Thursday and oscillates in a narrow trading band through the early part of the European session.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.