The NASDAQ 100 fell significantly during the day on Monday, but found enough support at 4475 to turn things around and form a hammer. The hammer of course
The NASDAQ 100 fell significantly during the day on Monday, but found enough support at 4475 to turn things around and form a hammer. The hammer of course is a very strong sign, so a break of the top of this candle would be reason enough for us to start buying. We think at the very least the market would try to fill the gap from a couple of sessions ago, meaning that we will reach towards the 4725 handle. A break above there could send this market looking towards the 4750 handle given enough time. We do not have any interest in selling at the moment.
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.
