Technical Update - USNAS100 cfd (Nasdaq-100 future) in rising channel. Break out could be imminent| FXMAG.COM

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.

Source: Saxo Group

Source: Technical Update - USNAS100 cfd (Nasdaq-100 future) in rising channel. Break out could be imminent | Saxo Group (home.saxo)

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Kim Cramer Larsson

Kim Cramer Larsson started his career in 1996 as an equities trader focusing on the US and Asian markets with BG Bank, London. In 1997, Kim relocated to BG Bank, Copenhagen (BG Bank was acquired by Danske Bank in 2000) to the position of equities trader and portfolio manager.

Kim began using technical analysis as a trading tool from 1997. In 2005, Kim was promoted to the position of technical analyst in the FX & Fixed Income Research department at Danske Bank. In his current role, Larsson focuses on technical analysis of equities, equity indexes, forex pairs, and more for Saxo Bank. Larsson’s views and analyses can be found on Saxo’s News & Research hub as well as at Saxo’s Academy where he hosts webinars focusing on chart analysis.

Kim Cramer Larsson

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