The NASDAQ as you can see gapped lower at the open on Friday, but then turned back around to fill that gap. With this, it looks as if the market is going
The NASDAQ as you can see gapped lower at the open on Friday, but then turned back around to fill that gap. With this, it looks as if the market is going to try to continue to go lower as the candle drops all the way down to the 4760 level. With this, we believe that the NASDAQ continues to go lower and you can be sellers but you also recognize that there is a lot of support just below, so therefore we would be quick to take profits. This is the wrong time of year to expect sustained moves, so having said that, we believe that buying opportunities will appear fairly soon.
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.
