Nas100 is currently forming a rising wedge. I expect price to rise a bit up to complete this pattern. If bears defend the top of this wedge and push price down, we can expect strong bearish momentum that will push price down.
For clear bearish confirmation, we should wait for the wedge to be violated to the bottom. If this happens then bears will focus the rising trendline at around 16535.00.
We only take the short orders if the rising wedge play out, otherwise we can also expect bulls continuing to push price higher if the wedge is violated to the top side.
Please do your own analysis and follow your own trading plan.
Do not forget to leave a like if you enjoy my ideas.
Be kind:)
For clear bearish confirmation, we should wait for the wedge to be violated to the bottom. If this happens then bears will focus the rising trendline at around 16535.00.
We only take the short orders if the rising wedge play out, otherwise we can also expect bulls continuing to push price higher if the wedge is violated to the top side.
Please do your own analysis and follow your own trading plan.
Do not forget to leave a like if you enjoy my ideas.
Be kind:)
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