NAS100 |Demand zone remains intact, watch out for CPI data!
As I stated in my previous analysis, NAS100 has reached a significant level, a demand zone where price reacted a number of times in the past acting as both support and resistance. We noticed a spike to the downside through the support level during yesterday's trading sessions which only ended the day with an indecision candle. I believe buyers would not give up so easily in defending the demand zone. We also need to consider that CPI data is set to be released today and this will definitely act as a catalyst which will impact price action. In spite of everything, my bias still remains bullish, unless we see a clear violation of the demand zone.
In the event where my bias will meet clear bullish confirmation for entry on lower timeframe, I will consider taking long positions with two targets in mind, 12463.0 and 12726.1.
I encourage everyone to do their own analysis and not take my word for it and also keep in mind the CPI data to be release latter today.
Be safe!
In the event where my bias will meet clear bullish confirmation for entry on lower timeframe, I will consider taking long positions with two targets in mind, 12463.0 and 12726.1.
I encourage everyone to do their own analysis and not take my word for it and also keep in mind the CPI data to be release latter today.
Be safe!
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