The NASDAQ as you can see fell during the course of the day on Thursday, continuing to consolidate just above the 4350 level. With that, it appears that
The NASDAQ as you can see fell during the course of the day on Thursday, continuing to consolidate just above the 4350 level. With that, it appears that the market is on its back foot at the moment, but until we break down below 4300, we are not necessarily comfortable shorting this market. We think there’s plenty of buying opportunities below as there are quite a few buyers, but we do not have the supportive candle in order to start going long. If we do get below 4300 though, it’s very likely that we will drift down to the 4200 level next.
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.
