Emini And Nasdaq September Contract Daily Forecast – August 5, 2019
bottomed exactly at strong support at 2916/14. Longs need stops below 2905. A break lower is a sell signal targeting 2891, 2887/85, 2880, 2875 and 2869/66.
Gains are likely to be limited with first resistance at 2940/42 then strong resistance at 2957/60. A break above 2965 could target a selling opportunity at 2980/85 with stops above 3100.
hit good support at 7670/65 for profit taking on shorts & bounced just 13 points below. Holding minor support at 7710/7700 targets first resistance at 7735/40. Gains are likely to be limited but above here try shorts at 7790/7800 with stops above 7820. A break higher targets 7835 and 7850, perhaps as far as a selling opportunity at 7875/85, with stops above 7900. A break below 7650 is a sell signal targeting 7625/20. Below 7610 look for 7600 and 7580/76, perhaps as far as 7540/35.
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