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US Nas 100

Weekly Analyses 03/24-03/28

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Welcome Traders to another week of trading!

Due to ongoing economic events the US stock market underwent a correction for the past 4 weeks. From peak to trough, the NASDAQ made a 14.4% correction and has now found a level of support at 19,125.3. Since then, price has made a series of HHs and HLs ultimately signalling a LH on the Daily chart. Using my fibs the Daily LH is currently within the 38.2% fib level. Price has also finally managed to fill the gap created at market open on March-9.

https://www.tradingview.com/x/U09r1rbN/

So what happens next?
Price may have room to continue bullish in an attempt to capture the buy side liquidity and FVG created during the downtrend. If this is the case, I anticipate price to continue bullish to 20,320.0 - 20,552.1. If price respects this level, it will serve as a retest of the 200 day MA that price broke below, as well as a restest of the neckline of the "M" pattern created on the Daily.

snapshot
snapshot

Price also has room to retrace as the 1H, 6H and 7H TFs have signalled a HIGH not HH. A retracement is required to signal their respective HLs to continue the uptrend. Furthermore, a gap created at market open on March-21 needs to be filled. So regardless of how high price may continue bullish we can expect a retracement back to 19,785.9 with a daily candle close below the gap. Depending on the moment this may signal a new Daily HL or LL.





jhannellefrancis
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- Signals for NAS100 US30 and GOLD
- Full Technical and Fundamental Breakdown of the Market.
Also on:
Chart PatternsFibonacciTrend Analysis

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.
Chart PatternsFibonacciTrend Analysis
jhannellefrancis
Join my FREE trading club to receive everything necessary for earning!
t.me/JFrancisForex

- Signals for NAS100 US30 and GOLD
- Full Technical and Fundamental Breakdown of the Market.
Also on:

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.