NAS100 [US100] Daily Outlook | July 12

FX:NAS100   US 100 Cash CFD
Long Term Outlook:

Looking at NAS100 Daily TF, the asset remains bearish until 12949.00 level is broken. I see a trendline joining 13500, 12949 and 12979 indicating that price may yet see 11163 area with enough volume.

Short Term Outlook:

a. 1HR TF is currently ranging between 11798 and 11733. At the break and closure above 11798, we may see some bullish move up to 12041 area but with partials closure at 11877.75/11957.88 levels.
b. With a clean traffic to the left hand side, price break and closure below 11724 area will be a rare opportunity for a drop to even lower than 11552 level.

Which side are you on? Do let me know in the comment section.

NOTE: I trade NAS100 live from Mon-Fri at 8:45 AM EST/ 4:45 PM GST

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