EmpowerTrader

NASDAQ 100 Strong Support at 200 MA

Long
TVC:NDX   NASDAQ 100 Index
Price rebounded quickly after touching the 200 day moving average on Feb 28. For this reason, the market will mostly likely see the 200 day moving average as a major support level . For that reason, a break below this level will be difficult. On the other hand, if price does manage to break below 200, it will be inferred by traders as very strong bearish signal.

Comments

In my opinion it will actually go towards that support pretty soon and piercing through it without any difficulties. Lets see.
+1 Reply
UnknownUnicorn3100550 UnknownUnicorn3100550
@UnknownUnicorn3100550, Market is struggling to keep up even after emergency rate cut that achieved exactly opposite of what it was supposed to achieve.
+1 Reply