The NASDAQ fell hard during the course of the week, after initially trying to break above the 5100 level. US stock markets in general fell apart, but we
The NASDAQ fell hard during the course of the week, after initially trying to break above the 5100 level. US stock markets in general fell apart, but we are testing serious support levels in this general vicinity. Somewhere around 4750, we anticipate seeing some type of buying pressure. We are going to wait for supportive candle, and then simply take advantage of what should be thought of as value longer term. We have no interest in selling at this point in time simply because there’s far too much support below, and it would make us chasing the trade, which is the last thing you want to do.
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.
