Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
07 November
Emini S&P shorts at resistance at 6845/6855 worked perfectly with a high for Wednesday at 6857 & a test of 1st support at 6800/6795.
The break below 6790 tested strong support at 6770/6760 & longs were stopped below 6747.
The break below 6747 risks a slide to 6700/6690.
Gains are likely to be limited in this downside correction phase.
Resistance at 6810/6820 & shorts need stops above 6830.
A break higher can target 6860/6870.
Strong support at 6680/6670 & longs need stops below 6660.
Emini Nasdaq shorts at resistance at 25850/25890 worked perfectly with a high for the Wednesday here & a slide to support at 25600/25500.
The break below 25450 retested the correction low at 25300/280.
Longs stopped below 24750 for a sell signal targeting 24600/24550 & we fell as far as 25200
We look likely to target strong support at 25050/24950 with a low for the day expected & even a low for the correction is possible.
However a daily close below 24800 is a sell signal for the start of next week & we can target 24600/24550.
Longs at strong support at 25050/24950 can target 25250/300 & 2550/25600.
25800/850 is not out of the question on the bounce.
Emini Dow Jones tests support again at 47100/47050 but longs need stops below 46900.
On a break below 46900 look for 46650/46550.We should have strong support at 46500/46400, with a low for the correction possible here but longs need stops below 46250.
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Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
Jason Sen, Director
https://www.daytradeideas.co.uk
20251107
