Nas100 is on the edge of a cliff
With about - 14.18% Nas100 plunged from it's overall high of 16780.44 to 14400.00. The race that has been outstanding for the bears and that has put bulls endurance to the test. Now that it landed at 14400.00. What is the future of Nas100? Since this level is a historical support level where price bounced up strongly in October of 2021. Will we see a strong rejection and rebound from this level or will bears continue to oppress the poor bulls? Only time will tell.
At this point, the game is quite complex, trying to play this game would be riskier than anything else, for sure there are many instruments to look at, Gold, Silver, Pound, NZD and so forth.
At this point I am only interested in watching the bears and bulls in the ring and far I shall stand. Hahahahaha😂
Yes, until one is exhausted, I will determine the Victor. I will go with the flow, at the point when one has paved the way for me.
Point of interest:
▪️14400.00 is not only a historical support level, as I plotted the Fibonacci Retracement tool from point A (swing low) and point B (swing high), 61.80% significant level is on the same zone.
This is the only chance the bulls have; failure for them to hold price at that level, it could lead to yet another bloody week and bears will have no mercy (it comes once or twice in a year for the bears), definitely it would be an opportunity for them to flex their muscles. If the bears completely violate 14400.00, the only level bulls will show up is the 14000.00 psychological level or the 78.60% fib level at 13748.80.
In addition to that, the market is bearish as we see that the 200 moving average was already breached. Even the 50 and 100 moving averages are floating above the market.
Well, the rest is left for discussion and each one use his/her discretion.
What are your thoughts on this? Please do share with me in the comment session below.
Will Nas100 rise or fall from here?
If it does fall, what is the last level you looking at?
If 14400.00 holds, how are you planning to trade this?
Hey, do not forget to like this. I am watching you😂
At this point, the game is quite complex, trying to play this game would be riskier than anything else, for sure there are many instruments to look at, Gold, Silver, Pound, NZD and so forth.
At this point I am only interested in watching the bears and bulls in the ring and far I shall stand. Hahahahaha😂
Yes, until one is exhausted, I will determine the Victor. I will go with the flow, at the point when one has paved the way for me.
Point of interest:
▪️14400.00 is not only a historical support level, as I plotted the Fibonacci Retracement tool from point A (swing low) and point B (swing high), 61.80% significant level is on the same zone.
This is the only chance the bulls have; failure for them to hold price at that level, it could lead to yet another bloody week and bears will have no mercy (it comes once or twice in a year for the bears), definitely it would be an opportunity for them to flex their muscles. If the bears completely violate 14400.00, the only level bulls will show up is the 14000.00 psychological level or the 78.60% fib level at 13748.80.
In addition to that, the market is bearish as we see that the 200 moving average was already breached. Even the 50 and 100 moving averages are floating above the market.
Well, the rest is left for discussion and each one use his/her discretion.
What are your thoughts on this? Please do share with me in the comment session below.
Will Nas100 rise or fall from here?
If it does fall, what is the last level you looking at?
If 14400.00 holds, how are you planning to trade this?
Hey, do not forget to like this. I am watching you😂
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.