Emini NASDAQ: 1st Support At 4850/45
Jason Sen | Oct 27, 2016 04:54AM ET
Emini NASDAQ first support at 4850/45 is the most important of the day, of course. A break below 4835 however, risks a slide to 4826 then minor support at 4818/14 and better support at 4805/00.
Above 4855 allows a recovery to first resistance at 4880/83. Watch for a high for the day again. Above however targets 4893/96 then 4903/05. Gains are likely to be limited but if we continue higher look for 4913 before the all time high at 4919.50. Just be aware that a break higher targets 4928/32 then the only major challenge for bulls at 2 month trend line resistance at 4940/44. If this does not hold a rally, look for 4951/54 then 4978/81.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.