US100 - Long opportunity with trend

19.09.2018 / 22:45

Varchev Finance - Nasdaq 100 short term expectations

Rating:

Nasdaq 100 - H4

Our expectations - The upward trend remains in place, and the short-term adjustment provides a good opportunity for long positions. The price has reached a support zone, formed by a basic upward diagonal, horizontal support and 200SMA. 23.6% The Fibonacci correction of the main trend is close to the area, being able to withstand two successive and strong tests - positive for the price. 50 and 200SMA remain beached - the trend remains in place. RSI (14) crosses 50 from bottom up - probable change in short-term upward trend. Price Action: Activated Pin Bar in the Support Zone - Positive for the price.

SL: $7400

Alternative scenario: If the price moves below the support zone is held there, the positive scenario will be spoiled and more likely to see a decrease in the value of the index.

Trader Petar Milanov

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US100 - Long opportunity with trend

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