Bearish Momentum Signals on $NAS100 #NASDAQ ,#NAS100 ???
Analysis:
Trade Outlook:
Given these signals, I am leaning towards a bearish outlook on NASDAQ. My anticipated target for retracement is the 15,500 level.
Risk Management:
As always, it's essential to manage risk effectively. Consider setting stop-loss orders to mitigate potential losses and monitor the market closely for any unexpected developments.
- Current Level:
NAS100
is currently at the same swing high level as of July 23.
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- Tight Range Since Nov 20, 2023: The index has been experiencing an unusually tight trading range since November 20, 2023.
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- RSI Cooling Down: The Relative Strength Index (RSI) is showing signs of cooling down, suggesting a potential decline in buying momentum.
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- Above Average Volume: Noteworthy trading volume in the last two days, indicating heightened market interest.
Trade Outlook:
Given these signals, I am leaning towards a bearish outlook on NASDAQ. My anticipated target for retracement is the 15,500 level.
Risk Management:
As always, it's essential to manage risk effectively. Consider setting stop-loss orders to mitigate potential losses and monitor the market closely for any unexpected developments.
Trade closed: stop reached:
SL hit yeaterday