MICRO E-MINI NASDAQ100 FULL0624 - Weekly - Technical analysis published on 01/20/2024 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 16,380.55 USD
My targets
17,482.00 USD (+0.25%)
17,940.50 USD (+2.88%)
My analysis
MICRO E-MINI NASDAQ100 FULL0324 is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 16,380.55 USD. The next resistance located at 17,482.00 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 17,940.50 USD. After this resistance, buyers could then target 18,715.50 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.8
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This analysis was given by imlongcat. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MICRO E-MINI NASDAQ100 FULL0324 rating is 17,438.50 USD. The price is up +2.77% over 5 days with the lowest point at 16,689.00 USD and the highest point at 17,472.00 USD. The deviation from the price is +4.49% for the low point and -0.19% for the high point.16,689.00
17,472.00
17,438.50
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Weekly chart of MICRO E-MINI NASDAQ100 FULL0324 indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 13,325.85 | 14,404.75 | 16,380.55 | 17,438.50 | 17,515.95 |
| Change (%) | -23.58% | -17.40% | -6.07% | - | +0.44% |
| Change | -4,112.65 | -3,033.75 | -1,057.95 | - | +77.45 |
| Level | Intermediate | Major | Major | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16,628.25 | 16,731.00 | 16,920.50 | 17,023.25 | 17,212.75 | 17,315.50 | 17,505.00 |
| Camarilla | 17,029.63 | 17,056.42 | 17,083.21 | 17,110.00 | 17,136.79 | 17,163.58 | 17,190.37 |
| Woodie | 16,671.63 | 16,752.69 | 16,963.88 | 17,044.94 | 17,256.13 | 17,337.19 | 17,548.38 |
| Fibonacci | 16,731.00 | 16,842.64 | 16,911.61 | 17,023.25 | 17,134.89 | 17,203.86 | 17,315.50 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15,868.58 | 16,123.42 | 16,546.33 | 16,801.17 | 17,224.08 | 17,478.92 | 17,901.83 |
| Camarilla | 16,782.87 | 16,845.00 | 16,907.12 | 16,969.25 | 17,031.38 | 17,093.50 | 17,155.63 |
| Woodie | 15,952.63 | 16,165.44 | 16,630.38 | 16,843.19 | 17,308.13 | 17,520.94 | 17,985.88 |
| Fibonacci | 16,123.42 | 16,382.32 | 16,542.27 | 16,801.17 | 17,060.07 | 17,220.02 | 17,478.92 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15,015.00 | 15,473.50 | 16,248.50 | 16,707.00 | 17,482.00 | 17,940.50 | 18,715.50 |
| Camarilla | 16,684.29 | 16,797.36 | 16,910.43 | 17,023.50 | 17,136.57 | 17,249.64 | 17,362.71 |
| Woodie | 15,173.25 | 15,552.63 | 16,406.75 | 16,786.13 | 17,640.25 | 18,019.63 | 18,873.75 |
| Fibonacci | 15,473.50 | 15,944.70 | 16,235.80 | 16,707.00 | 17,178.20 | 17,469.30 | 17,940.50 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 68.29 | |
| MACD (12,26,9): | 563.5700 | |
| Directional Movement: | 10.56 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 16,904.33 | |
| Parabolic SAR (0,02-0,02-0,2): | 15,977.61 | |
| Elder Ray (13): | 590.83 | |
| Super Trend (3,10): | 15,565.64 | |
| Zig ZAG (10): | 17,463.25 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 89.24 | |
| TEMA (21): | 17,054.67 | |
| Williams %R (14): | -0.28 | |
| Chande Momentum Oscillator (20): | 2,987.25 | |
| Repulse (5,40,3): | 6.7200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.4200 | |
| Courbe Coppock: | 21.09 |
| MA7: | 17,044.64 | |
| MA20: | 16,915.69 | |
| MA50: | 16,540.92 | |
| MA100: | 15,929.18 | |
| MAexp7: | 16,836.49 | |
| MAexp20: | 16,192.62 | |
| MAexp50: | 15,335.22 | |
| MAexp100: | 14,649.91 | |
| Price / MA7: | +2.31% | |
| Price / MA20: | +3.09% | |
| Price / MA50: | +5.43% | |
| Price / MA100: | +9.48% | |
| Price / MAexp7: | +3.58% | |
| Price / MAexp20: | +7.69% | |
| Price / MAexp50: | +13.72% | |
| Price / MAexp100: | +19.03% |
Quotes :
-
10 min delayed data
-
CME E-mini Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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