NAS100| Expect more selling pressure!
Nas100 is still bearish. Last week, bulls failed to take the market higher, instead the market printed another lower high (as we can see that the market has already printed a series of lower highs and lower lows).
Nearby resistance is seen at around 12300, second resistance is seen at 13000. In case of a bullish move this coming week, buyers would have difficulties to violate the first resistance. On the other hand, bears continuing to dominate will send price lower and they would be eyeing 11000 as the first nearby support. Second support is seen at around 10690.00. I have a strong bearish bias and as long as price continues to trade below 12300.00 we can be certain that 11000 would be an easy target for sellers.
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Nearby resistance is seen at around 12300, second resistance is seen at 13000. In case of a bullish move this coming week, buyers would have difficulties to violate the first resistance. On the other hand, bears continuing to dominate will send price lower and they would be eyeing 11000 as the first nearby support. Second support is seen at around 10690.00. I have a strong bearish bias and as long as price continues to trade below 12300.00 we can be certain that 11000 would be an easy target for sellers.
If you find my ideas helpful, please support my work with likes.
If you have any question or opinion feel free to write in the comment section below.
Do not forget to follow to continue receiving ideas likes this.
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