2021/12/05 17:07 PM – NASDAQ 100 MINI FUT – W1 – IN TROUBLE

NQ1 100 MINI FUT – W1- IN TROUBLE !!! by Ironman8848 on TradingView.com

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

Disclaimer / Avertissement :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

Toutes les opinions exprimées dans mes analyses sont les miennes et ne représentent pas les opinions d’une entité, quelle qu’elle soit, avec laquelle j’ai été, je suis ou je serai affilié. Toute action que vous entreprenez sur la base des informations contenues dans ces analyses est strictement à vos propres risques et ne doit pas être considérée comme un conseil. L’auteur n’assume aucune responsabilité pour toute erreur ou omission dans le contenu de ses analyses. Les informations contenues sont fournies “en l’état”, sans garantie d’exhaustivité, d’exactitude, d’utilité ou d’opportunité et sans aucune garantie de quelque nature que ce soit, expresse ou implicite.