The NASDAQ as you can see initially gapped lower at the open on Tuesday, and then drove even lower. However, we are getting close to the 5000 level which
The NASDAQ as you can see initially gapped lower at the open on Tuesday, and then drove even lower. However, we are getting close to the 5000 level which should be the support that the market looking for. After all, it is a large, round, psychologically significant number. There was a gap there, so it’s probably only a matter time before the buyers get involved again. We have no interest in selling, because quite frankly there’s more than enough support below from the longer-term charts in order to keep us from selling at this point in time.
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.
