The NASDAQ 100 fell on Monday, as the 4900 level continues offer quite a bit of resistance. With this being the case, looks as if we are going to pullback
The NASDAQ 100 fell on Monday, as the 4900 level continues offer quite a bit of resistance. With this being the case, looks as if we are going to pullback in order to try and break above that level, so I’m looking for supportive action just below. Any supportive candle below will be reason enough to go long, and I believe that the 4800 level should be significant support. Alternately, if we break above the top of the range for the day, I would be long of this market at that point in time. I have no interest in shorting.
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.
