👋 Interested in how you can make an $1,000 per day with a trusted heavily regulated ⭐⭐⭐⭐⭐ 5-star international broker? Sign up for a free consultation.
Trading Signal: NAS100 Breakout Analysis
The NAS100 has recently broken through a key support line that it has previously tested twice. This breakout could indicate a potential trend reversal, but traders should exercise caution and wait for confirmation before entering a trade. If the new trend continues, a target level of approximately 19952.8545 could be reached within the next 10 hours.
Trading Strategy and Technical Indicators:
- The breakout from the Rising Wedge trade setup suggests a potential continuation of the downtrend.
- Traders may consider using technical indicators such as moving averages, RSI, and MACD to confirm the strength of the breakout.
- Implementing a stop-loss order to manage risk is recommended in case of a reversal.
Assets Correlation:
The NAS100 is closely correlated with other major indices such as the S&P 500 and Dow Jones Industrial Average. Traders should monitor the performance of these indices for potential market direction clues.
Economic Calendar Events:
Traders should also keep an eye on upcoming economic calendar events such as US GDP data, FOMC meetings, and job reports, as these can impact the movement of the NAS100.
Will the NAS100 continue its breakout trend and reach the target price? Stay tuned for further updates on this developing trade setup.
⚠ If you wish to learn how to invest in the right stocks or trade successfully online, you can look into our free daily news about stock market news, crypto market news, commodities news, forex news, and financial markets daily technical analysis and trading signals.
