The NASDAQ 100 gapped lower at the beginning of the week, but found enough support near the 3900 level to turn things back around and form a rather
The NASDAQ 100 gapped lower at the beginning of the week, but found enough support near the 3900 level to turn things back around and form a rather positive looking candle. That being the case, the market looks as if it could bounce from here, but at this point in time we recognize that there is quite a bit of resistance above that could continue to put pressure on the market. Ultimately, we need to see a general stabilization of the markets overall in order to buy the NASDAQ 100.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.