marcosmerc

NQ! Analysis Daily time frame

CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
NQ1! Daily chart: NQ has been aggressively bullish to continuously make new all time highs. Even after dropping to 12200 on March 5th it managed to make a new high on April 16 even though it was not during the regular hours. Personally, I was expecting a pull back to around 11500 but It managed to squeeze most of the shorts around 12200. As now it looks like it might pull back to the trend line and if does it would be interesting to see how it reacts to it; probably the long side might be the prefer choice since the bull market does not seeing to stop soon but if it were to break down and the catalyst seem to be following it it might good to hedge and look for longs around 13200. My personal price target if we continue in a bullish trend would be around 14300 based on Fib Retracement.

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