ndau

Support has turned into resistance

CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
The bottom of the green channel has been acting as solid support since April but has started to act as resistance since the beginning of this month. However, the 50 day moving average is still acting as support, thus sending mixed signals.

NASDAQ could move north if the bottom of the channel turns into support again. However, further downside is expected if the 50 d moving average support is breached. So keep an eye on the channel and the moving average.

PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Sep 26
Comment: The bottom of the channel again offered resistance yesterday.
Sep 26
Comment: PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Sep 28
Comment: My opinion is still unchanged though it looks like that NASDAQ is very close to making a decision now.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.

Oct 04
Comment: The same story: The bottom of the green channel again offered resistance and the 50 day moving average again offered support. The only change is that NASDAQ pierced through the support and thus weakened it.

Oct 04
Comment: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Oct 05
Comment: Support eventually broken.
Oct 05
Comment:
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
hello bro
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