NQ has rallied 9% in a little over a week and is now only 4% away from all-time highs. With all the geopolitical mentions going on around the world it just shows that markets are 100% completely disconnected from reality. We are living in a ‘fake’ time and nobody is considering the risks that are facing us. Even holding fiat currency can be a concern for the future. With this in mind, let’s look at the technicals and see what we can do.
Its a very simple outlook this week for NQ. There is a resistance zone at the moment at $15362.25 which may hold the price from moving higher for the remainder of this week. All signsT are pointing upward regarding the Fed but geopolitically, they are extremely worrying. The RSI still has some space to move before approaching overbought territory, but in times like these, all technicals can be thrown out of the window at the drop of a hat.
Levels to watch is the critical $15364.50 resistance zone that price is currently trading within, and then ultimately the all-time high at $16,000. It is very likely we see that hit by year end. Bears need to be cautious because selling now, even though geopolitical events would indicate otherwise.