NAS100 - failed to break key resistance
After a surge following the Fed interest rate decision and FOMC conference, price has gone on to test the final major resistance (16458) before the ATH.
The 20, 50 and 100 EMA's are converging around $16150, from which we are rather overextended. I think we will fail to close above the 16458 resistance and move back towards the EMA's (16150) for support, and then in the coming days/weeks will go on to retest/break the 16458 resistance and head towards new ATHs.
The 20, 50 and 100 EMA's are converging around $16150, from which we are rather overextended. I think we will fail to close above the 16458 resistance and move back towards the EMA's (16150) for support, and then in the coming days/weeks will go on to retest/break the 16458 resistance and head towards new ATHs.
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