The NASDAQ 100 gapped lower at the open on Tuesday, but bounced off of the 4625 level to form a bit of a hammer. With that being the case, we believe that
The NASDAQ 100 gapped lower at the open on Tuesday, but bounced off of the 4625 level to form a bit of a hammer. With that being the case, we believe that the market goes higher and reaches towards the 4725 level again. Once we break above there, the market is free to start reaching towards the 5000 level, which is our longer-term target anyway. We believe there is a massive amount of support all the way down to the 4500 level, and as a result we feel it’s only a matter of time before we can go long.
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.
