2022/01/27 11:04 AM – NASDAQ 100 MINI FUT – D1/ H4/H1 – BEARISH STRUCTURE !

NQ1 100 MF-D1-BEARISH STRUCTURE ! by Ironman8848 on TradingView.com

DAILY (D1)

Despite a sharp recovery attempt seen yesterday towards an intraday high @ 14’639.75, the Nasdaq failed to recover firstly above :

1) the Tenkan-Sen @ 14’679
2) the secondary downtrend resistance line around 15’000
3) the Kijun-Sen
4) and last but not least above the Mid Bollinger Band @ 15367 and above the clouds resistance area (15676-16’052)

Having in mind this overall broad bearish picture it is very difficult to find positive technical arguments which could support an opposite view, isnt’it ?

In addition, looking at the bottom of this daily chart , you can see (in overlay) the level of the weekly clouds support area (13’950-12’760) which should be seen as the next very important support area with the FIRST STRATEGIC TECHNICAL TARGET @ 12’894, which is only… the 38.2% Fibonacci retracement of the big rally which started in March 2020 @ 6628.75 towards the ATH reached last November @ 13’767.50 (performance of + 7’138.75 or + 107.69 %).

Second strategic technical target is @ 11’698.25 (50% Fib ret) which is also the Kijun-Sen level on the monthly picture !!!

4 HOURS (H4)

Ongoing persisting downward pressure in a sideways price action

Below the cluster of TS MBB and KS (14’230-14’280) and below the H4 clouds too !

1 HOUR (H1)

Currently facing the H1 clouds resistance area (very thin !) and also the Bollinger Band and the Kijun-Sen.

Watch the clouds

Ironman8848 & Jean-Pierre Burki

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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. 

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