The NASDAQ as you can see gapped lower at the open on Thursday, but turned back around to go much higher. The positive candle of course is a good sign
The NASDAQ as you can see gapped lower at the open on Thursday, but turned back around to go much higher. The positive candle of course is a good sign going forward, but we need to clear the 4300 level in order to be comfortable buying this marketplace. Between now and then, we believe that this market will probably bang around, looking for some type of supportive move in order to finally turn things back around as it has been oversold for some time ultimately, we think that buyers return to the NASDAQ and the US stock markets in general after this significant sell off.
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.
