Mihai_Iacob

Nas100- Drop under 14k after correction?

Short
VANTAGE:NAS100   US 100 Cash CFD
On 13 September I wrote that Nas100 could lose trend line support and, as long as the 15500 zone is intact as resistance, there is a high chance for the index to drop to 14700-14800 zone support.
As we can see from the chart, after a new test of the resistance zone on 15 September, the index started to drop again and, two days ago we had a strong break under the trend line and a dive directly to horizontal support.
At this moment, a correction is probable, but, in my opinion, this rise will be short-lived and should be used as an opportunity for short trades.
In conclusion, rallies above 15k should be sold and the medium-term target for such a trade could be in the 14k zone and slightly under.

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.