shawntime_academy

US100(Nasdaq100) Insight

Short
CAPITALCOM:US100   US 100
Before the start, Thank you for your follow and boosts.
Today, we will check US100 chart. Let's see quickly.

We can see
1. the price broke the descending channel .
2. support on 11200.00
3. overlapped resistance on 12900.00

We should check
Tuesday - CAD Core Retail Sales
Wednesday - German Manufacturing PMI, Britain Composite PMI, Britain Manufacturing PMI, Britain Services PMI, US Building Permits, US Core Durable Goods Orders, US Initial Jobless Claims, US New Home Sales, US, Crude Oil Inventories, FOMC Meeting Minutes
Thursday - German Ifo Business Climate Index, ECB Publishes Account of Monetary Policy Meeting
Friday - German GDP (QoQ) (Q3)

We can expect
1. the price keep dropping to 11200.00
2. rebounding from support on 11200.00 to 12900.00

From last week, the market is going down and it seem like drops more. For this week, having Short position will be favorable.
But, this dropping will be short-term and the price will rebound from 11200.00. (This can be chance to buy) And, I'm expecting that upward movement from next week.
Let's see if we can have Long position from where we are waiting.

Thank you for reading and hope this insight was helpful.

Analyzed by Han.

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