The NASDAQ 100 fell on Monday, as the 4900 level continues offer quite a bit of resistance. With this being the case, looks as if we are going to pullback
The NASDAQ 100 fell on Monday, as the 4900 level continues offer quite a bit of resistance. With this being the case, looks as if we are going to pullback in order to try and break above that level, so I’m looking for supportive action just below. Any supportive candle below will be reason enough to go long, and I believe that the 4800 level should be significant support. Alternately, if we break above the top of the range for the day, I would be long of this market at that point in time. I have no interest in shorting.
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.
