NQ1!, Nasdaq is flirting with an important trend line
Updated
Nasdaq E-mini futures is flirting with a trend line while on its way to 7000 mark. This trend line has provided a good reaction and most likely is being watched. There is a potential resistance that would cause a pull back. I need to emphasize the word potential. Any level is only potential. Considering that upcoming holiday it may lead to a short term risk off. Stay nimble. Watch for an impulse sell and break of the 6740-50 level to confirm that.
Note
The resistance has provided a tradeable reaction during the RTH. A short setup worked fine, the buyers showed up at the support though and pushed the price higher. However, the RTH session ended up with a doji candle. Once the momentum, created by the recent news, dries up the shorts will work better.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.