Nasdaq 100 price (NASDAQI:NDX) is a clean bull market; a roaring bull market. The bullish bias has been existing since February 2021. This is a trend that is supposed to continue.
Short selling is not recommended in this market as any pullbacks will
eventually turn out to be opportunities to buy at lower rates, and in the
context of an uptrend.
Price is above the EMA 20, and the William’s % Range period 20 has
remained in the overbought region for a long time. Only long trades are advised
here – by buying of short-term pullbacks.
The bias on Nasdaq 100 is bullish for this year, and price can still
reach the resistance lines at 15,000.00, 16,000.00 and 17,000.00 before the end
of this year.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
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