The NASDAQ 100 gapped lower at the open on Tuesday, testing the 4630 handle. The area just below there is a significant gap though, and we believe that
The NASDAQ 100 gapped lower at the open on Tuesday, testing the 4630 handle. The area just below there is a significant gap though, and we believe that between the 4500 and the 4600 levels, there is a massive amount of buying pressure. Because of this, we believe that the market will turn back around somewhere in that area if we drift lower, offering a nice opportunity to start going long again. We have no interest whatsoever in selling, at least not until we get well below the aforementioned 4500 level on a daily close.
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.
