With both EMAs condition forming a Golden Cross intersection and RSI(140) having briefly touched the Oversold level, then in the near future #NDX has the opportunity to advance toward its nearest resistance level.
Key Levels
1. Resistance. 2 : 24403.0
2. Resistance. 1 : 24206.6
3. Pivot : 23964.1
4. Support. 1 : 23767.7
5. Support. 2 : 23525.2
Tactical Scenario
Positive Reaction Zone: If the price breaks out above 23964.1, there is a likelihood of an advance toward 24206.6.
Momentum Extension Bias: If 24206.6 is broken out, #NDX may test 24403.0.
Invalidation Level / Bias Revision
The upside bias weakens if the price breaks down below 23525.2.
Technical Summary
EMA(50) : 23882.9
EMA(200): 23669.9
RSI(14) : 30.83
Economic News Release Agenda:
Today the United States will release the following economic data:
US - Challenger Job Cuts y/y - 18:30 WIB
US - Unemployment Claims - 19:30 WIB
US - Trade Balance - 19:30 WIB
US - Natural Gas Storage - 21:30 WIB
