Emini Nasdaq Shoots Higher With No Actual Direction
Jason Sen | Jun 17, 2016 02:24AM ET
Emini Nasdaq has shot higher to 4439/40 in a volatile week with no actual direction, but a bullish candle yesterday at least. If we can hold above 4432/30 bulls could push higher to first resistance at 4442/4444. This is less important today and a break higher targets 4452/55 then 4460/62. If we continue higher look for strong resistance at 4470/75. Shorts need stops above 4485.
Failure to hold above 4430 risks a slide to support at 4415/10. This could hold the downside but longs need stops below 4400. A break lower targets 4392/90 then 4383/81 before a buying opportunity at 4362/58. Longs need stops below 4350.
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