Nasdaq Strong Bullish Reversal
Nasdaq 100 index (Sunday 21 April): first daily close in short term oversold territory since September 2022. Can it trade lower? Yes it can, however traders need to look for opportunity to buy. Friday's daily low is the next pivot. One scenario is that it trades below this level followed by a reclaim of this level (also known as a piercing candle). Also look for any doji candle or long lower tail which could signal a short term bottom.
For more research insights, including trade ideas, get in touch today.
Nasdaq 100 index (Sunday 21 April): first daily close in short term oversold territory since September 2022. Can it trade lower? Yes it can, however traders need to look for opportunity to buy. Friday's daily low is the next pivot. One scenario is that it trades below this level followed by a reclaim of this level (also known as a piercing candle). Also look for any doji candle or long lower tail which could signal a short term bottom.
For more research insights, including trade ideas, get in touch today.