NQ1 100 MINI FUT - W1- IN TROUBLE !!!Looking at the latest week price action we can see that this indice is currently potentially in big trouble !!!
Indeed, if you go back towards the low reached in March 2020, you can see that each time, the selling pressure has been stopped
by both the Mid Bollinger Band and the Kijun-Sen !!
Magical isnt'it ?
Not at all, it is the powerful Ichimoku approach which once again worked, in the past perfectly well, in each time rejecting the downside breakout attempt.
The question is now ?
Would the same story is going to repeat itself for the 5th time, YES or NO ???
Indeed, a failure to hold on a weekly closing basis above the support cluster of 15567-15229 would be very negative for the upcoming week (s), opening the door
for lower levels towards, respectively 14'358 (former low of the beginning of October ahead of the weekly clouds support zone (13'330-12'000), please note that
12'881 is the 38.2 % Fib retracement of the 6'626 - 16747 rally) and the 50 % is @ 11'686, slighly below the weekly clouds bottom support !!!
CONCLUSION :
Global picture remains heavy and a failure to quickly recover above 16'300-16'500 (middle of the long previous black candle) would add further selling pressure.
Watch and monitor very closely daily and intraday price action, which will help you to validate or invalidate this expected bearish scenario calling for lower levels.
All the best and take care
Ironman8848
