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Trading Signals for NAS100
When analyzing the NAS100 chart, we can see that it is currently heading towards the support line of a Rising Wedge pattern. This pattern typically indicates a potential bearish reversal. If the current movement continues, the price of NAS100 could test the support level at 21608.6332 within the next 17 hours.
Technical Indicators Used:
- RSI (Relative Strength Index)
- MACD (Moving Average Convergence Divergence)
- Bollinger Bands
These technical indicators can provide further confirmation of the potential bearish movement in NAS100.
Correlated Assets:
NAS100 is often correlated with other major stock indices such as S&P 500 and Dow Jones Industrial Average. Traders can look at the movements of these indices to get a better understanding of the overall market sentiment.
Economic Calendar Events:
Traders should also keep an eye on upcoming economic calendar events that could impact the price of NAS100. Events such as GDP releases, interest rate decisions, and employment reports can all have a significant impact on the stock market.
Overall, traders should approach the current situation in NAS100 with caution and be prepared for potential bearish movement in the short term.
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