The first part of the year was very bad for indices and Nas100 in particular, with the technology index dropping around 30%.
However, in mid-June, a bottom was created and we have had a bullish run for 2 months now.
The index also managed to break above important 13k resistance which is a confluence one, given by the horizontal level and the falling trend line.
At this moment, the picture looks pretty bullish and we can have a continuation to the upside after the recent correction.
In such a case bulls can target 15k for the next leg up.
On the other hand, and this is very important, a failure to maintain 12800-13000 intact would make the recent break a nasty bull trap and the index could fall again to at least the previous low.
However, in mid-June, a bottom was created and we have had a bullish run for 2 months now.
The index also managed to break above important 13k resistance which is a confluence one, given by the horizontal level and the falling trend line.
At this moment, the picture looks pretty bullish and we can have a continuation to the upside after the recent correction.
In such a case bulls can target 15k for the next leg up.
On the other hand, and this is very important, a failure to maintain 12800-13000 intact would make the recent break a nasty bull trap and the index could fall again to at least the previous low.
Comment:
Looks like 13k zone will not hold unfurtunatly...
Comment:
Looks like is to die moment
We can have a new low by the end of the year
We can have a new low by the end of the year
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