Long
NAS100| Will the rally continue?
Hello traders,
Looking at NAS100 we can technically tell that the index printed a triple bottom plus a violation of the neckline. The index is trading above the 12000 psychological level which is acting as both the violated neckline of the triple bottom and the new demand. My anticipation is that the index will continue to rise if bulls strongly defend the 12000 key level. We are also paying attention to the Dollar index (DXY), which is currently trading within a falling channel. If we can be able to see DXY making a pull back down to 101, then we will definitely see NAS100 and other indices continuing to rally higher. 13600 is the next supply zone bears will be setting their eyes on. I will continue to monitor price today or tomorrow to see if it can give us a good confirmation to go long.
US DOLLAR INDEX
I would be glad to hear your opinion in the comment section below. Can we expect NAS100 continuing with its rally up?
Looking at NAS100 we can technically tell that the index printed a triple bottom plus a violation of the neckline. The index is trading above the 12000 psychological level which is acting as both the violated neckline of the triple bottom and the new demand. My anticipation is that the index will continue to rise if bulls strongly defend the 12000 key level. We are also paying attention to the Dollar index (DXY), which is currently trading within a falling channel. If we can be able to see DXY making a pull back down to 101, then we will definitely see NAS100 and other indices continuing to rally higher. 13600 is the next supply zone bears will be setting their eyes on. I will continue to monitor price today or tomorrow to see if it can give us a good confirmation to go long.
US DOLLAR INDEX
I would be glad to hear your opinion in the comment section below. Can we expect NAS100 continuing with its rally up?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.