Technical analysis update: NQ1! (2nd June 2021)

Recently some of our readers requested analysis of indices. Because of that we prepared simple and concise analysis of continuous futures contract NQ1!. Technicals such as MACD, RSI and Stochastics are all bullish. However, resistance sits at 13900.50 points and current trend is very weak which is reflected in low ADX value. Though, we think there is still strong upside potential for NQ1! until the end of 2021. In addition to that we think that breakout above support level is very likely and that it will further bolster bullish case for NQ1!. Because of that we would like to update our medium term price target for NQ1! to 14000 points.

Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.

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Our medium term price target of 14000 points has been reached.