US100 near strong resistance levels [Video]

Olimpiu Tuns Learn 2 Trade

The US 100 registered a strong growth as the DXY was in a corrective phase. The index climbed as much as 15,897, registering a new high. Nasdaq remains bullish as the US retail sales, Industrial Production, and Capacity Utilization rate came in worse than expected. Today, Housing Starts and Building Permits came in worse than expected.

Technically, the rate found resistance at the upper median line (uml) of the ascending pitchfork. It has registered only false breakouts through this dynamic resistance and above 15,877. Now, it tries to retest these upside obstacles. New false breakouts or a strong bearish pattern may announce a corrective phase.

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Author

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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