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Trading Signal: NAS100 Breakout
The NAS100 has recently broken through a key resistance level at 19225.2773, indicating a potential bullish trend. If this breakout holds true, traders could anticipate the price of NAS100 heading towards 20272.3184 within the next 2 days. However, it is important to exercise caution before entering any trades, as the asset has tested this resistance level multiple times in the past.
Trading Strategy and Technical Indicators Used:
- The trading strategy for this signal is based on breakout trading, where traders aim to capitalize on price movements following a breakout from a significant level of support or resistance.
- Technical indicators such as moving averages, RSI (Relative Strength Index), and MACD (Moving Average Convergence Divergence) can be used to confirm the strength of the breakout and identify potential entry and exit points.
- Traders may also consider implementing stop-loss and take-profit orders to manage risk and lock in profits.
Assets Correlated with NAS100:
The NAS100, also known as the Nasdaq 100 index, is composed of the top 100 non-financial companies listed on the Nasdaq stock exchange. Traders may consider monitoring other major indices such as the S&P 500 and Dow Jones Industrial Average for correlation and market sentiment.
Economic Calendar Events:
- Traders should pay attention to upcoming economic calendar events that could impact the price of NAS100, such as GDP reports, employment data, and central bank announcements.
- Key economic indicators and events in the United States, such as non-farm payrolls and Federal Reserve meetings, can have a significant influence on the movement of the NAS100 index.
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