As we can see on the graph, NASDAQ100 is trying to find support at 8000, which is 0.236 fib level and also MA50 on the weekly graph. Maybe, but I don't think so, we will find support here for the short term, maybe even today, but tomorrow is Friday, nobody will risk with bad news over the weekend, so I am expecting that we will have sell-off today and tomorrow. Also, news about the coronavirus is worst than ever and we since WHO stated pandemic yesterday, I think we are on a good way to the recession and bear market if we are not already there.
What I think it will happen, tomorrow we will have again huge sell - we will go bellow MA50 and we will reach 7200-7400 levels, during next week if there is no some very nice news about stoping coronavirus we will test MA200 somewhere near 7000 (red circle). If we break below it, help us, God!
What can be a good thing, in past we never tested MA200, so maybe, but I don't belive in that, we will not test MA200 and we will find support in level 7200-7400.
Disclaimer:
- this is not any kind of trading advice
- I am a noob, this is for my learning and training purposes
Comments are appreciated.
What I think it will happen, tomorrow we will have again huge sell - we will go bellow MA50 and we will reach 7200-7400 levels, during next week if there is no some very nice news about stoping coronavirus we will test MA200 somewhere near 7000 (red circle). If we break below it, help us, God!
What can be a good thing, in past we never tested MA200, so maybe, but I don't belive in that, we will not test MA200 and we will find support in level 7200-7400.
Disclaimer:
- this is not any kind of trading advice
- I am a noob, this is for my learning and training purposes
Comments are appreciated.
