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.
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.
