Nas100: Important levels to carefully watch and update!
Hey traders,
Talking from my previous idea, I mentioned that Nas100 was really in a strong downtrend and the momentum made it challenging for the bulls to push price higher. With the Ukraine-Russia war which intensified we could only watch major U.S. stocks getting major blows in the past days. The market being driven by fear as investors continue to digest of what's to come, investors are finding refuge in safe haven assets and obviously withdrawing their funds to invest in assets they have certainty of producing value to their capitals.
If the tension between Russia and Ukraine continues to escalate, we can expect the worst in the stock market. We will carefully monitor talks and negotiations between these countries, any sign of improvement we might see the stock market turning to normality again which will in turn boost the Nasdaq100 index.
Nevertheless, I am carefully watching important levels where I think there would be major turning points for Nas100. Around 12900 and 12300 as marked on the chart. This is according to the technical aspect of the index. See the higher time-frame ascending channel that we been singing for months, from the time of the breakout Nas100 had been in a downward momentum to fulfill this channel. We been carefully watching for Nas100 to find footing on one of the lows. Whenever each low got violated, Nas100 continued to move down.
We should keep in mind that the index is more weighted on the fundamental and geopolitical events at this point in time. Whatever the market digest from this, we can expect the outcome. We do not want to rely only on technical analysis but also paying attention to the world events as well and assessing how investors are reacting to this.
Congratulations to everyone that took advantage of my previous idea and benefited from this. Make sure to follow for future update.
Previous Idea💡
Outcome (+700 Pips move)✅
Do not forget to like and comment if you have any suggestions or opinions on this idea. I will be happy to know your thoughts on this.
Talking from my previous idea, I mentioned that Nas100 was really in a strong downtrend and the momentum made it challenging for the bulls to push price higher. With the Ukraine-Russia war which intensified we could only watch major U.S. stocks getting major blows in the past days. The market being driven by fear as investors continue to digest of what's to come, investors are finding refuge in safe haven assets and obviously withdrawing their funds to invest in assets they have certainty of producing value to their capitals.
If the tension between Russia and Ukraine continues to escalate, we can expect the worst in the stock market. We will carefully monitor talks and negotiations between these countries, any sign of improvement we might see the stock market turning to normality again which will in turn boost the Nasdaq100 index.
Nevertheless, I am carefully watching important levels where I think there would be major turning points for Nas100. Around 12900 and 12300 as marked on the chart. This is according to the technical aspect of the index. See the higher time-frame ascending channel that we been singing for months, from the time of the breakout Nas100 had been in a downward momentum to fulfill this channel. We been carefully watching for Nas100 to find footing on one of the lows. Whenever each low got violated, Nas100 continued to move down.
We should keep in mind that the index is more weighted on the fundamental and geopolitical events at this point in time. Whatever the market digest from this, we can expect the outcome. We do not want to rely only on technical analysis but also paying attention to the world events as well and assessing how investors are reacting to this.
Congratulations to everyone that took advantage of my previous idea and benefited from this. Make sure to follow for future update.
Previous Idea💡
Outcome (+700 Pips move)✅
Do not forget to like and comment if you have any suggestions or opinions on this idea. I will be happy to know your thoughts on this.
