Deensesay

NAS100, What Goes Up Must Come Down!

Short
OANDA:NAS100USD   US Nas 100
Nasdaq 100 Weekly/Daily Charts-

What goes up must come down! The US100 is operating @ an all time high with the market being in a very strong Uptrend.

Fundamentals- The Nasdaq has staged a massive rally over the last few trading sessions in the aftermath of election night. With challenger Joe Biden looking set to claim victory over incumbent Donald Trump, and prospects of a split congress squashing fears of higher corporate taxes, investors have pushed major stock indices notably higher this week. Nasdaq price action surged almost 10% from last Friday’s close while the S&P 500 and Dow both gained about 7% a piece. This coincided with a sharp slide in the US Dollar and breakout in gold prices.

Price is currently @Monthly Resistance level (brown zone) which has been respected multiple times and this is where I'll be looking for counter-trend opportunities on the 4HR Chart this week!


Link to Weekly Chart;
Tradingview.com/x/C5QlAE4I/

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