NAS100 l DAILY l OUTLOOK
Looking back at May 16th TA that was sent on NAS100 the following was stated:
“On Friday we saw a break through downtrend trendline. NAS100 broke back into major zone 12200 - 12450. But once again rejected off BOS area.
What we see / need to see:
1. NAS100 is still overall bearish and needs to break above 200 EMA .
2. NAS100 formed solid prices action support off bottom of major zone 12200 (Circled).
3. NAS100 need to break through BOS 12550 and form a higher low.”
DAILY TAKEAWAYS:
1. NAS100 rejected off of BOS zone 12550 for 6th time in the matter of three weeks.
2. NAS100 broke and is retesting major area 11750.
3. Need to see next couple 4 hourly candles engulf and break BOS at 12050.
4. Need to see retest of 12050 if broken and then another BOS 12550 needs to be broken and retested.
5. 12550 zone has been a major zone of rejection for the past two weeks.
“On Friday we saw a break through downtrend trendline. NAS100 broke back into major zone 12200 - 12450. But once again rejected off BOS area.
What we see / need to see:
1. NAS100 is still overall bearish and needs to break above 200 EMA .
2. NAS100 formed solid prices action support off bottom of major zone 12200 (Circled).
3. NAS100 need to break through BOS 12550 and form a higher low.”
DAILY TAKEAWAYS:
1. NAS100 rejected off of BOS zone 12550 for 6th time in the matter of three weeks.
2. NAS100 broke and is retesting major area 11750.
3. Need to see next couple 4 hourly candles engulf and break BOS at 12050.
4. Need to see retest of 12050 if broken and then another BOS 12550 needs to be broken and retested.
5. 12550 zone has been a major zone of rejection for the past two weeks.
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