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NASDAQ 100 Forecast May 4, 2016, Technical Analysis

By:
Christopher Lewis
Published: May 4, 2016, 05:09 UTC

The NASDAQ 100 fell during the course of the session on Tuesday, testing the 4320 handle. There is quite a bit of support just below though, so this point

NASDAQ 100 daily chart, May 4, 2016

The NASDAQ 100 fell during the course of the session on Tuesday, testing the 4320 handle. There is quite a bit of support just below though, so this point in time it looks as if there could be a bit of a bounce just below, so we are waiting to see whether or not we get a supportive candle. If we do, then we can think about buying as it has been a nice pullback from the rally that should offer the ability for buyers to pick up this market “on the cheap”, and see this situation is a value.

About the Author

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.

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