The NASDAQ as you can see fell rather hard during the course of the day on Thursday, but bounce significantly in order to form a nice-looking hammer.
The NASDAQ as you can see fell rather hard during the course of the day on Thursday, but bounce significantly in order to form a nice-looking hammer. Because of that, we are bullish of this market on a move above the 4440 level, and believe it will head to the 4500 level. A better than anticipated jobs number coming out today of course would send this market higher anyway, so we do like buying this market in general. We believe that there is a significant amount of support below, so we have no interest in selling.
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.
