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Varonos
Mar 31, 2020 11:07 AM

NASDAQ | Bullish momentum but until when? Long

US 100 IndexFXCM

Description

- In the 1h timeframe we are able to see a clear bullish movement with increasing tops and bottoms.
- Price is above SMA50 and SMA200.
- Volume: In every consolidation so far we see a small depression but every time when the bullish trend has begun, volume has increased as well.
- Strong support zone at 7750 and strong resistance zone at 7870-7900. The next big challenge for NAS100 is to break the significant resistance at 7990.
Comments
LupaCapital
setup looks good -bullish impulse, now a retrace and if the zone holds longs will fly to the fresh zone.
Varonos
@LupaCapital, That's right. If it breaks the Resistance at 7990 we will see a strong trend.
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