The NASDAQ 100 Mini Future (NQ) today launches a direct attack on the viability of the key resistance which, as in the case of the S&P 500 index, is projected from the maximum of the second shoulder, a level identified from 25,830 points.
Whether or not this level is surpassed at the close of the daily candle is something that we must continue to monitor, since throughout the current session the paper has appeared precisely at that point or, in other words, at the moment of exceeding that level, selling pressure has appeared, so the importance of such a level is on the table.
Mini NASDAQ 100 Future (NQ) on daily scale with volatility (upper center chart), MACD (lower center chart) and trading activity (lower window). Source: ProRealTime and own elaboration.
Therefore, from that level we can propose two scenarios; (1) a first bullish scenario that we will confirm with a daily close above 25,830 points, based on the cancellation of the Shoulder-Head-Shoulder, as well as its minimum objective of theoretical setbacks (23,160 points), which would allow us to propose as the most probable scenario the registration of new annual and historical highs above 26,399 points.
For its part, (2) the inability of the price to register daily closes above 25,830 points, something that does not seem easy based on the behavior registered at the moment, would keep the distribution figure or bearish implications active in the form of Shoulder-Head-Shoulder, so the scenario of returning to the minimum of 23,904 points would remain alive, whose perforation would allow extending the corrective process started from annual highs, with a target in the area of technical relevance included around 23,260 / 23,010 points, an area that has worked as a previous ceiling or resistance, and now does so as a potential floor or support.
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