The NASDAQ 100 initially tried to rally during the week, but found the 4900 level to be a bit too resistive. This is an area where we have seen a lot of
The NASDAQ 100 initially tried to rally during the week, but found the 4900 level to be a bit too resistive. This is an area where we have seen a lot of selling pressure anyway, so pullback from here wasn’t a big surprise. What was surprising is how find when it was. However, Friday saw some of the selling pressure abated, and therefore looks as if we’re going to continue to consolidate in the same general area that we have been in. Short-term charts might be used to buy this market, but beyond that I don’t see much in the way of a trade.
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.
