The NASDAQ 100 fell initially during the course of the session on Friday, but found enough support near the 525 level to turn things back around and form
The NASDAQ 100 fell initially during the course of the session on Friday, but found enough support near the 525 level to turn things back around and form a hammer. This is an area that should be supportive anyways, because we gapped above the 4500 level couple of weeks ago. The fact that we formed a hammer down here towards the bottom of the gap is a very positive sign, and as a result we are buyers as the NASDAQ 100 will more than likely try to reach towards the recent highs yet again.
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.
