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Trading Signals: Falling Wedge Pattern on NAS100
Our trading signals have identified a Falling Wedge pattern on NAS100 at 19818.7199, indicating a potential upcoming movement. Here is an overview of the pattern and the possible trading strategy:
Pattern Details:
- The Falling Wedge pattern suggests a bullish reversal may be on the horizon.
- The pattern is currently at 19818.7199, with a support line at 19485.9663.
- There are two potential outcomes: a break through the support line leading to a continuation of the bearish trend, or a reversal from that line signaling a bullish move.
Trading Strategy:
- Traders can consider going short if the price breaks through the support line at 19485.9663.
- Alternatively, traders may initiate a long position if the price reverses from the support line, indicating a bullish trend.
Technical Indicators:
The following technical indicators can be helpful in confirming the potential move indicated by the Falling Wedge pattern:
- Relative Strength Index (RSI)
- Moving Averages
- Volume Analysis
Correlated Assets:
NAS100 can correlate with the following assets, affecting its price movement:
- S&P 500
- Dow Jones Industrial Average
- Tech Stocks
Economic Calendar Events:
Traders should keep an eye on the following economic calendar events that may impact NAS100:
- US Non-Farm Payrolls
- Interest Rate Decisions
- GDP Reports
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