Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
24 November
Nasdaq futures.
- * Emini Nasdaq tested the 100 day moving average at 24250 & the longer term Fibonacci support at 24200/24000.
- * We wrote: ‘This could not be more important today. In short term oversold conditions a bounce from here can target strong resistance at 24500/24600.’
- * Although we did momentarily break below 23950 we recovered quickly & if you are in my telegram group I tried to keep you in the long trade, as we identified a very rare broadening bottom pattern on the H1 chart.
- * The weekly close above 24200 is obviously positive.
- * Although we have not fulfilled the measured target for the head & shoulders pattern, having held the important support at 24200/24000, it’s possible the downside correction is over.
- * Holding above 24500 is a further positive signal for Monday targeting important resistance at 24850/25000.
- * There are short term moving averages here, plus it is the neck line to the head & shoulders.
- * If bulls can clear 25150 there are back in full control for the rest of this week & the next target should be 25400/500.
- * However a break below 24900 is a sell signal targeting 23800 & 23600/550.
Emini Dow Jones futures
- * Emini Dow Jones collapsed to strong 100 day moving average & 38.2% Fibonacci support at 45900/45700.
- * A low for the week exactly here & this support is important again for this week.
- * We wrote: This is very important & a bounce from here in short term oversold conditions targets first resistance at 46350/450. We made it as far as 46656
- * Further gains are expected this week towards 46800/850.
- * A break above 46950 is the next buy signal targeting 47200/300.
- * A break below 45500 is a sell signal targeting 45300 & 44950/850 for some profit taking on shorts.
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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
20251124
