The NASDAQ gapped lower at the open on Wednesday, and then drove all the way down to the 4950 level. We found enough support there to turn things back
The NASDAQ gapped lower at the open on Wednesday, and then drove all the way down to the 4950 level. We found enough support there to turn things back around and form a hammer though, and this suggests that we will continue to find buyers. We think that this market can only be bought, and that we will eventually grind our way towards the 5200 level. With no interest in selling, we believe that this market will ultimately reach towards higher highs given enough time as it is one of the better performers that we follow.
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.
