ANALYSIS NASDAQ 28/06/2024
NASDAQ 100 futures (NQU2024) on TradingView, showing various technical analysis elements including trend lines, Fibonacci retracement levels, and price channels. Here’s an analysis based on the chart:
Current Price Action:
The current price is around 20,096.75.
There is a visible upward trend from the recent lows around 19,729.75.
Trend Lines:
Several ascending trend lines are drawn, indicating potential support levels.
A significant upward trend line starts from the bottom left, showing the long-term upward momentum.
There is a sharp, nearly vertical line indicating a potential rapid rise scenario.
Fibonacci Retracement Levels:
Key Fibonacci levels are marked, including 0.5 (20,051.00) and 0.618 (20,126.75), suggesting potential resistance or support points.
The 1.618 extension level is at 20,424.75, indicating a possible target if the price breaks above current resistance levels.
Price Channels:
Multiple orange channels are drawn, illustrating different slopes of price movement, with the price oscillating within these channels.
The price is currently near the upper boundary of a mid-term ascending channel, which could act as resistance.
Support and Resistance Levels:
Horizontal lines indicate critical support (19,729.75) and resistance (20,211.50) levels.
The resistance at 20,211.50 coincides with a recent high and a Fibonacci retracement level.
Projected Movements:
If the price maintains its upward momentum, it may test the resistance at 20,211.50 and potentially aim for the 1.618 extension at 20,424.75.
A break below the current support level at 20,051.00 might lead to a decline towards the lower trend line around 19,879.50 or even lower.
Conclusion:
The NASDAQ 100 futures are showing a generally bullish trend with potential resistance at 20,211.50. Traders should watch for breakouts above this level for further upside potential towards 20,424.75. Conversely, a failure to hold above the support level at 20,051.00 could lead to a downside move, with key support around 19,879.50.
NASDAQ 100 futures (NQU2024) chart, we can identify key entry and exit points using support, resistance levels, and trend lines observed.
Buy Strategies:
Buy Entry:
Price Level: Around 20,051.00 (Fibonacci 0.5 level and nearby support).
Condition: Confirmation of a bounce from this level, such as a bullish candlestick or a reversal pattern.
Target 1: 20,211.50 (nearby resistance and Fibonacci 1.0 level).
Target 2: 20,372.00 (next resistance level and potential Fibonacci extension).
Target 3: 20,424.75 (Fibonacci 1.618 extension).
Stop Loss: Below the support level at 19,879.50.
Buy Entry:
Price Level: Around 19,729.75 (recent low and support level).
Condition: Confirmation of a bounce from this level, such as a bullish candlestick or a reversal pattern.
Target 1: 20,051.00 (nearby resistance and Fibonacci 0.5 level).
Target 2: 20,211.50 (next resistance level and Fibonacci 1.0 level).
Stop Loss: Below the support level at 19,562.50.
Sell Strategies:
Sell Entry:
Price Level: Around 20,211.50 (nearby resistance and Fibonacci 1.0 level).
Condition: Confirmation of rejection from this level, such as a bearish candlestick or a reversal pattern.
Target 1: 20,051.00 (nearby support and Fibonacci 0.5 level).
Target 2: 19,879.50 (next support level).
Stop Loss: Above the resistance level at 20,372.00.
Sell Entry:
Price Level: Around 20,126.75 (Fibonacci 0.618 level).
Condition: Confirmation of rejection from this level, such as a bearish candlestick or a reversal pattern.
Target 1: 20,051.00 (nearby support and Fibonacci 0.5 level).
Target 2: 19,879.50 (next support level).
Stop Loss: Above the resistance level at 20,211.50.
Important Notes:
Confirmation: It is crucial to wait for confirmations at the mentioned levels before entering a trade. This can include candlestick patterns, additional technical indicators (like RSI or MACD), or trading volumes.
Risk Management: Always use stop-loss orders to limit potential losses. Risk management is key in trading.
Monitoring: Continuously monitor the market and adjust strategies based on new developments and price movements.
Current Price Action:
The current price is around 20,096.75.
There is a visible upward trend from the recent lows around 19,729.75.
Trend Lines:
Several ascending trend lines are drawn, indicating potential support levels.
A significant upward trend line starts from the bottom left, showing the long-term upward momentum.
There is a sharp, nearly vertical line indicating a potential rapid rise scenario.
Fibonacci Retracement Levels:
Key Fibonacci levels are marked, including 0.5 (20,051.00) and 0.618 (20,126.75), suggesting potential resistance or support points.
The 1.618 extension level is at 20,424.75, indicating a possible target if the price breaks above current resistance levels.
Price Channels:
Multiple orange channels are drawn, illustrating different slopes of price movement, with the price oscillating within these channels.
The price is currently near the upper boundary of a mid-term ascending channel, which could act as resistance.
Support and Resistance Levels:
Horizontal lines indicate critical support (19,729.75) and resistance (20,211.50) levels.
The resistance at 20,211.50 coincides with a recent high and a Fibonacci retracement level.
Projected Movements:
If the price maintains its upward momentum, it may test the resistance at 20,211.50 and potentially aim for the 1.618 extension at 20,424.75.
A break below the current support level at 20,051.00 might lead to a decline towards the lower trend line around 19,879.50 or even lower.
Conclusion:
The NASDAQ 100 futures are showing a generally bullish trend with potential resistance at 20,211.50. Traders should watch for breakouts above this level for further upside potential towards 20,424.75. Conversely, a failure to hold above the support level at 20,051.00 could lead to a downside move, with key support around 19,879.50.
NASDAQ 100 futures (NQU2024) chart, we can identify key entry and exit points using support, resistance levels, and trend lines observed.
Buy Strategies:
Buy Entry:
Price Level: Around 20,051.00 (Fibonacci 0.5 level and nearby support).
Condition: Confirmation of a bounce from this level, such as a bullish candlestick or a reversal pattern.
Target 1: 20,211.50 (nearby resistance and Fibonacci 1.0 level).
Target 2: 20,372.00 (next resistance level and potential Fibonacci extension).
Target 3: 20,424.75 (Fibonacci 1.618 extension).
Stop Loss: Below the support level at 19,879.50.
Buy Entry:
Price Level: Around 19,729.75 (recent low and support level).
Condition: Confirmation of a bounce from this level, such as a bullish candlestick or a reversal pattern.
Target 1: 20,051.00 (nearby resistance and Fibonacci 0.5 level).
Target 2: 20,211.50 (next resistance level and Fibonacci 1.0 level).
Stop Loss: Below the support level at 19,562.50.
Sell Strategies:
Sell Entry:
Price Level: Around 20,211.50 (nearby resistance and Fibonacci 1.0 level).
Condition: Confirmation of rejection from this level, such as a bearish candlestick or a reversal pattern.
Target 1: 20,051.00 (nearby support and Fibonacci 0.5 level).
Target 2: 19,879.50 (next support level).
Stop Loss: Above the resistance level at 20,372.00.
Sell Entry:
Price Level: Around 20,126.75 (Fibonacci 0.618 level).
Condition: Confirmation of rejection from this level, such as a bearish candlestick or a reversal pattern.
Target 1: 20,051.00 (nearby support and Fibonacci 0.5 level).
Target 2: 19,879.50 (next support level).
Stop Loss: Above the resistance level at 20,211.50.
Important Notes:
Confirmation: It is crucial to wait for confirmations at the mentioned levels before entering a trade. This can include candlestick patterns, additional technical indicators (like RSI or MACD), or trading volumes.
Risk Management: Always use stop-loss orders to limit potential losses. Risk management is key in trading.
Monitoring: Continuously monitor the market and adjust strategies based on new developments and price movements.
Disclaimer
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