skypointmarkets

NAS100 TRADE ANALYSIS

OANDA:NAS100USD   US Nas 100
The strong move down yesterday has lead to consolidation. At the moment I am indifferent as to where the market will move. A break above 11800 could lead us back to 12400 and then come back down or continue further to 12800. A break below the consolidation box (11500) will most certainly lead to the bears target of 11274. If you go back on NAS100 and observe how the market reacted to the previous 2016 election you will notice a lengthy period of consolidation on the days following the election. I feel like this may be the case for the next few days however its difficult to say for certain due to how the Corona Virus is affecting the market. I think during this period it's wise to stay wary and to only enter a trade when you're confident in your analysis. Happy trading everyone

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