Weekly Analysis 10th Sept 2022 - Nasdaq 100 #NQ #MNQ
Week close on 12592*
* Strong Bullish on Daily chart , bullish engulfing candles on weekly and under construction Hammer on Monthly.
* A strong Trendline resistance coming up on 12600 along with RSI at 48. very crucial to break above 12650 and sustain to maintain bullish stand. with RSI, Volume and Trendline resistance Fridays move looks like an Bull Trap. Mondays close will dictate the further course of action.
Outlook for next week neutral. Monday will dictate the direction for the week.
Silver Lining for the previous week. appl: Bullish divergence and Tsla closed above 200DMA.
Outlook for monthly Neutral to Bearish.
S1: 12600 S2: 17250 S3: 16950
R1: 12300 R2: 12000 R3: 11900
A big short squeeze expected if we get daily close above 12800.
* Strong Bullish on Daily chart , bullish engulfing candles on weekly and under construction Hammer on Monthly.
* A strong Trendline resistance coming up on 12600 along with RSI at 48. very crucial to break above 12650 and sustain to maintain bullish stand. with RSI, Volume and Trendline resistance Fridays move looks like an Bull Trap. Mondays close will dictate the further course of action.
Outlook for next week neutral. Monday will dictate the direction for the week.
Silver Lining for the previous week. appl: Bullish divergence and Tsla closed above 200DMA.
Outlook for monthly Neutral to Bearish.
S1: 12600 S2: 17250 S3: 16950
R1: 12300 R2: 12000 R3: 11900
A big short squeeze expected if we get daily close above 12800.