The NASDAQ 100 initially tried to rally during the course of the day on Wednesday, but found the 4880 level above massively resistive and therefore we
The NASDAQ 100 initially tried to rally during the course of the day on Wednesday, but found the 4880 level above massively resistive and therefore we turned back around. With this, I believe that the market should continue to drift lower, and with that I think that there is plenty of support below that could turn this market back around. For example, the 4800 level below I believe is essentially the “floor” in this market, so therefore as soon as we get a supportive candle in that general region, I would be a buyer. However, a break above the top of the shooting star would also be a very bullish sign.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
