The NASDAQ gapped lower at the open on Monday, falling apart rapidly. However, we did bounce enough off of the 4300 level to fill the gap back to the 4700
The NASDAQ gapped lower at the open on Monday, falling apart rapidly. However, we did bounce enough off of the 4300 level to fill the gap back to the 4700 level. Ultimately, we closed near the 4500 level, and it shows just how much volatility is in this market. However, we also recognize that the bounce was significant, and that it’s probably only a matter of time before the buyers get involved. We are not comfortable selling at this point, and are simply going to wait until we get value and more importantly support.
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.
