NAS100USD
This is an exciting moment for the Indices, as the price has shown some interesting patterns. Initially, a double top was formed, which resulted in a decline in price. The price then fell to test the 38.2 level on the Fibonacci retracement, following which an impulsive bullish move occurred, pushing the price to retest the previous highs. Currently, we are witnessing another double top formation, which has been confirmed with a close below the neckline. This indicates that the price may soon test the 61.8 level on the Fibonacci retracement. This turn of events presents a great opportunity for sells.
In the event that the Bulls are able to retain their current level of momentum, it is possible that we may witness a rejection occurring at the 23.6 level, which could serve as a crucial turning point for the price action. This rejection, in turn, may provide the market with an additional push to break through the current highs, potentially leading to further upward momentum. to the price, ultimately leading to a break in the current highs.