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US 100 Cash CFD
Long
Updated

NAS100 on 4 Hour

407
Price last week made a nice correction back lower, & is rejecting in a key area looking left that has acted as powerful support, along with resistance structure. If price remains above this key region I am anticipating for buyers to push price back to the upside to continue the overall uptrend.
Note
snapshot 30 Minute Timeframe: Price previously formed a double bottom formation, & broke the neckline / retested looking left & a strong impulsive move to the upside took place from this same zone. Price has now tested this zone twice recently forming another potential double bottom, & may be preparing for another move towards resistance again this week.
Note
snapshot Update: Choppy price action this morning in the main area of interest yesterday, however now price has puled back down to a previous area of support, & if price rejects / holds there a move back up could take place next.
Note
snapshot Price today formed a double bottom at the newer zone of interest
Profound_Ambition
Supply and DemandSupport and ResistanceTrend Analysis

Disclaimer

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Supply and DemandSupport and ResistanceTrend Analysis
Profound_Ambition

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.