Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

23 March

Emini S&P futures.

• * Emini S&P June futures broke below 6665/6655  to target 6605/6600. On Friday we collapsed from minor resistance at 6685/6695 over night.
• * The break below 6600 then hit targets of 6585  & support at 6540/6520.
• * We made a low for the day exactly here.
• * A move below 6520 starts this week with a sell signal.
• * We hit 6505 & stabilised but we have lost 300 ticks since Wednesday morning.
• * There is important support at 6540/6520 on the longer term charts so this is key to direction.
• * We need a move back above 6560 for a less negative outlook but we meet minor resistance at 6590/6610.
• * A break above 6620 however can target strong resistance at 6655/6655.
• * Shorts need stops above 6680.
• * A break below 6495 is a sell signal targeting 6485/6480 then 6455/6450.

• * Further losses meet strong support at 6420/6410 & longs need stops below 6395.

Nasdaq futures.

• * Emini Nasdaq June futures hit the target of 25,240/25210 & the break below 25,200 saw us make a low for the day just 21 ticks above my next target of 23,950/23,900.
• * On the over night open we have now hit that target.
• * First resistance at 24,100/24,200 this morning.
• * Above 24200 look for 24,350/400, perhaps as far as resistance at 24,600/24,700 – shorts need stops above 24,800.

• * A break below 23,860 signals further losses towards 23,740/720 then 23,600/23,550.

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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

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