NQ Levels - CGG Newsletter (08/13/2023)
Upside:
15172 → 15260 → 15333 → 15444 → 15582
Downside
14995 → 14947 → 14888 → 14810 → 14656
Technical Analysis:
Similar to ES, NQ had a down week and closed right on its bullish trendline support tracing back to the lows made in March of this year. NQ had a much weaker close than ES, finishing down 0.69% in Friday's session. I am looking to see if NQ holds this trendline, where it is currently sitting at a Weekly level at 15098. The bearish price action set up somewhat of a falling wedge into the trendline support. Bullish momentum should see us hold the trendline. If the trendline does not hold, we could see a prime buying opportunity in the tech sector from 14888-14947. I would look to go long here and stay bullish until next thursday when the Jackson Hole Economic symposium starts.
15172 → 15260 → 15333 → 15444 → 15582
Downside
14995 → 14947 → 14888 → 14810 → 14656
Technical Analysis:
Similar to ES, NQ had a down week and closed right on its bullish trendline support tracing back to the lows made in March of this year. NQ had a much weaker close than ES, finishing down 0.69% in Friday's session. I am looking to see if NQ holds this trendline, where it is currently sitting at a Weekly level at 15098. The bearish price action set up somewhat of a falling wedge into the trendline support. Bullish momentum should see us hold the trendline. If the trendline does not hold, we could see a prime buying opportunity in the tech sector from 14888-14947. I would look to go long here and stay bullish until next thursday when the Jackson Hole Economic symposium starts.
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