NAS100 is nearing December trendline. What to expect?
NAS100 is approaching a significant December 2021 falling trendline.
As expected NAS100 is managing to push toward the December 2021 falling trendline. This will be the third touch to the trendline. We will carefully observe the market reaction on this trendline. I believe the index will reverse from that level as it is in a downtrend on high time-frame, which might also be impacted by Non-Farm Payrolls data this coming Friday and if it does fall,12680 level will be an easy target. A break below 12680 will send price lower to 12081.
On the other hand, a daily close above the falling trendline then bulls will keep pushing price all the way to 14000.
We can expect the index to be severely impacted by geopolitical tensions (China-Taiwan and USA)
Make sure to follow so you stay updated with new updates on the index.
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As expected NAS100 is managing to push toward the December 2021 falling trendline. This will be the third touch to the trendline. We will carefully observe the market reaction on this trendline. I believe the index will reverse from that level as it is in a downtrend on high time-frame, which might also be impacted by Non-Farm Payrolls data this coming Friday and if it does fall,12680 level will be an easy target. A break below 12680 will send price lower to 12081.
On the other hand, a daily close above the falling trendline then bulls will keep pushing price all the way to 14000.
We can expect the index to be severely impacted by geopolitical tensions (China-Taiwan and USA)
Make sure to follow so you stay updated with new updates on the index.
If you find this idea to be helpful please be kind to leave a like.
If you have any suggestion or opinion, be kind to share in the comment section below.
