The NASDAQ 100 fell slightly during the day on Friday, but found enough support at the 4700 level to turn around and form a slightly positive looking
The NASDAQ 100 fell slightly during the day on Friday, but found enough support at the 4700 level to turn around and form a slightly positive looking hammer. A break above the top of the hammer should send the market looking for the 4800 level. A break above there should send the market towards the 4900 level. This is an area that’s been massively resistive, so with that being the case, it’s likely that the markets will continue to try to break out above there. With this, given enough time we should have multiple attempts to reach that area.
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.
