Lester_Davids
Short

Nasdaq 100 Futures - Time to hand over the leadership?

CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
On 29-Aug we saw a false break to the upside. The price has since pulled back to the rising support line going back to 02-April of which we are currently seeing a back-test. Year-to-date, we have also seen a large rising wedge pattern develop as well as a large channel. On a short term basis, we are seeing the price (today and yesterday's candle) consolidating and starting to fail in regaining the upward trend line - although I could be a bit early in calling this. Time to hand over the leadership?

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