Nasdaq100 is currently on a support of a rising trendline that plots through the rising channel that began in May 2021. Nas100 is expected to renew its strength this week and bounce up from here, rising to 15700 to the previous high. Supported by the 4 hour, 200 Moving Average where price is currently seating, there's high chances the index might rise this week to test the previous high.
On the other hand, if the May 2021 trendline gets violated successful to the bottom, then the 14713.49 August 2021 low will come into focus.
Wishing everyone a successful trading week. Maybe you can also share with me your bias on Nasdaq100 in the comment section below.
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I am interested on how PA reacts to your "confluence" zone first on LTF..we may very well see a break down and support turn Resistance..I appreciate you sharing ! You have top tier analysis IMO!
Anyways, see how NY open reacts and go from there.
...(BTW, I sent another comment and some more coins in your last spot on idea on NAS and apparently TV deleted it.. I got an open ticket so will see what happened.)
Forexintelligence_NA
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@BusinessBeyond, I really appreciate the support you show and your feedback. Thanks for the coins once again. I really appreciate it.
We should carefully pay attention to it on the confluence zone. We already saw the breakout to the bottom but I'm not yet convinced if it is a real breakout. We still need to pay more attention it, hopefully during NY session we will be able to see reactions and clear direction.