E-mini Nasdaq 100 Futures | Rising Wedge Pattern

The Nasdaq 100 futures contract is showing signs of weakness with momentum turning lower near term. Since the drop in prices at the end of September last year, the market has come back in a corrective price structure moving into the key red shaded projection zone above. The most recent swing is a rising wedge which is a triangle pattern with both trendlines pointing in the same direction. Most rising patterns breakout to the downside after consolidating against the trend. Watch this technical pattern as a sign of exhaustion.