Nasdaq seems overbought [Video]

Olimpiu Tuns Learn 2 Trade

US100 registered an impressive growth and now is located at 16,014 at the time of writing. Now, the rate signaled exhausted, so a new sell-off is in cards. The DXY’s upwards movement could force the US equities to come back down in the short term. Tomorrow, the US Flash Services PMI and Flash Manufacturing PMI should really shake the rate.

The false breakout with great separation above the R1 (16,059) and its failure to retest the median line (ml) in the last attempt announced exhausted buyers. New false breakouts through 16,021 and above the R1 may announce a downside movement towards the lower median line.

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Olimpiu Tuns

Learn 2 Trade

Olimpiu is a seasoned Market Analyst / Trader with 11 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks.

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