Emini SP 500 – Nasdaq Daily Forecast – May 15, 2019
has dipped from the 2849/50 target to first support at 2835/38. Holding here obviously allows a recovery to 2843 and 2849/50. Look for a selling opportunity in the 2860/70 resistance band, with stops above 2880.
Back below 2830 keeps the pressure on for 2823/20 and key support at 2810/05. Longs need stops below 2799. A break lower is an important sell signal targeting 2790/89 & support at 2779/76. On further losses look for 2766/63, perhaps as far as 2758/56.
holding above 7435 re-targets 7470/80 with a selling opportunity at 7505/15. Stop and reverse into a long above 7530 to target 5770/80, perhaps as far as 7610/15.
Holding below 7420 re-targets first support at 7395/90. Below 7370 targets 7320 before the 7290 low. A break lower in the short term bear trend targets 7275 then 7235/25. A break below 7210 targets strong support at 7170/60. Longs need stops below 7130.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.