Intraday it seems that NDX 100 is in a clear downtrend. The trendlinie has been touched 3 times and, therefore, it is a valid trendlinie. Furthermore, we have a double top at 2828 which acts now in line with the high of the beginning of september as heavy resistance for the time being.
I do expect a trading range between 2780 and 2794 and further up to 2804.50.
In order to get out of this downtrending channel the price needs to break the trendlinie just to encounter the resistance mentioned before at 2828 which is also supported by the 38.2% fibo-retracement line.
Lots of work to be done by the NDX 100.
I wll only take Long positions on the extreme Levels like 2768.25 and 2744.61 and once the price breaks above 2830. Otherwise as shown in the chart I prefer Short positions on the 1st touch of the trendlinie and on the first touch of 2828
I do expect a trading range between 2780 and 2794 and further up to 2804.50.
In order to get out of this downtrending channel the price needs to break the trendlinie just to encounter the resistance mentioned before at 2828 which is also supported by the 38.2% fibo-retracement line.
Lots of work to be done by the NDX 100.
I wll only take Long positions on the extreme Levels like 2768.25 and 2744.61 and once the price breaks above 2830. Otherwise as shown in the chart I prefer Short positions on the 1st touch of the trendlinie and on the first touch of 2828