Technical Update - USNAS100 cfd (Nasdaq-100 future) in rising channel. Break out could be imminent
Kim Cramer Larsson
Technical Analyst, Saxo Bank
USNAS100 CFD (Future) is intra day trading in a rising channel. 1 Hour chart below. Key resistance at 11,756.
If USNAS100 breaks above, we are likely to see a move to 12,000 and a test of the falling trend line. However, a move to the 0.618 retracement at 12,213 is not unlikely. See Daily chart.
If USNAS100 breaks bearish out of the rising channel we are likely to see a sell off down to last week’s low at 11,036 but likely lower.
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