With the appearance of a Hidden Bullish Divergence on the RSI, #NDX has the potential to strengthen today. Thursday, November

[Ben Graham]

[#NDX]

Although both EMAs are still in a Death Cross condition, but with the appearance of a Hidden Divergence between the #NDX price movement and the RSI at the Extreme-Bullish level suggests that there is significant potential for strengthening today.

Key Levels

1. Resistance. 2 : 25265.2

2. Resistance. 1 : 25069.2

3. Pivot : 24717.0

4. Support. 1 : 24530.0

5. Support. 2 : 24177.8

Tactical Scenario:

Positive Reaction Zone: If the price breaks above 25069.2, #NDX has the potential to rise to 25265.2.

Momentum Extension Bias: If 25265.2 is successfully breached, then #NDX may test the level 25608.4.

Invalidation Level / Bias Revision:

The upside bias weakens if the price of #NDX declines and breaks down below 24177.8.

Technical Summary:

EMA(50) : 24705.1

EMA(200): 24845.3

RSI(14) : 70.34 + Hidden Bullish Divergent

Economic News Release Agenda:

Tonight from the United States session, several important economic data will be releases, such as:

US - Average Hourly Earnings m/m - 20:30 WIB

US - Non-Farm Employment Change - 20:30 WIB

US - Unemployment Rate - 20:30 WIB

US - Philly Fed Manufacturing Index - 20:30 WIB

US - Unemployment Claims - Tentative

US - Existing Home Sales - 22:00 WIB

US - CB Leading Index m/m - Tentative

US - Natural Gas Storage - 22:30 WIB

The material has been provided by InstaForex Company - www.instaforex.com