We are in the sell zone area and we have impulsed to the down side. Now we are expecting a collection before we can continue to the down side. Hence COVID-19 fear is leading to these strong moves to the down side
Possibly a little longer correction on the right shoulder then we can drop , remember we just broke the trend line. Plus monitoring the COT report, the edge funds who are in it for the money are closing the long positions hence we could expect a drop. This is the opposite of DXY it has the same structure
NASDAQ 100 price just touched the strong daily resistance plus trend line bellow. We could expect a long term bullish move if we break previous daily High.
