Soooo guys here i am with another analysis for the Nasdaq100.
Its clear to me that Nas made an exponential drop today, or as the call it, an bearish impuls. Its als clear that the $10800 zone is a powerful support zone. We also see a descending resistance forming. In other words, Nas is in a descending triangle. I anticipate a breakout downwards, and possibly a small retest to the $10800 zone, and continue downwards to the anticipated target of $10700.
As always, i try to keep the multi timeframe analysis in mind, and also be mindful of the constant change in market conditions
Its clear to me that Nas made an exponential drop today, or as the call it, an bearish impuls. Its als clear that the $10800 zone is a powerful support zone. We also see a descending resistance forming. In other words, Nas is in a descending triangle. I anticipate a breakout downwards, and possibly a small retest to the $10800 zone, and continue downwards to the anticipated target of $10700.
As always, i try to keep the multi timeframe analysis in mind, and also be mindful of the constant change in market conditions