Are my specs good enough for streaming?

[ImmortalVenum]

CPU: AMD FX-8350
GPU: GTX 960 2GB
RAM: 8GB
Download speed: 100
Upload speed: 5

 

[Vynavill]

You're fine, hardware wise, although you won't achieve 1080p@60hz at all times in specific games, but the upload bandwidth is a bit low. Streaming static MMOs or MOBAs should be ok, but high speed twitch shooters could be a pain...

I'm not too expert in live streaming, so take this with a pinch of salt, but I'd suggest 720p streaming with a max rate of 1500~2000 kbps, albeit that might not be much appealing for potential spectators.
If you want to avoid lagging in-game, that's what you should aim for IMO.