Nasdaq will bounce off on this support towards the Key Level
Market Instrument: US100
Timeframe: Daily
Analysis: Technical
Structure: Trend, Key Level, Support, and Reversal
Prediction: Bullish
US100 has formed a break-up to the upside and a pull back on the highlighted support. This promises a short-term bull ride back towards the key level or trend line formed. On the daily timeframe, it is very clear that the rejection of the support during the pullback is strong to the upside which seems more demand pressure is forming against the sell-off.
Timeframe: Daily
Analysis: Technical
Structure: Trend, Key Level, Support, and Reversal
Prediction: Bullish
US100 has formed a break-up to the upside and a pull back on the highlighted support. This promises a short-term bull ride back towards the key level or trend line formed. On the daily timeframe, it is very clear that the rejection of the support during the pullback is strong to the upside which seems more demand pressure is forming against the sell-off.