The NASDAQ fell during the balance of the week, but as you can see the 3375 level offered enough support to cause the market to bounce, forming a perfect
The NASDAQ fell during the balance of the week, but as you can see the 3375 level offered enough support to cause the market to bounce, forming a perfect hammer. The hammer is based around the 3450 level, and as a result we think that this market is ready to make another attempt to breakout above the 3500 level. If we can get that broken out of, we think that this market could go much higher, but quite frankly we wouldn’t be surprised to see a little bit of sideways action either. Nonetheless, we still think buying is the way to go.
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.
