Long
US100, OVERBOUGHT!
Hello fellow traders and investors, here's another idea.
US100 or the Nasdaq Index has recently broken above the resistance and we are currently at pretty much all-time highs. The tech sector is currently overbought and will most likely have a pullback. I advise you to reduce your position size and be ready to buy some more around the resistance level indicated on the chart. If it breaks below the resistance there's the bottom trendline of the channel however I think we will stay above the resistance level. Make sure to have enough buying power to buy when it pulls back. Good luck.
I hope you enjoyed this very quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.
US100 or the Nasdaq Index has recently broken above the resistance and we are currently at pretty much all-time highs. The tech sector is currently overbought and will most likely have a pullback. I advise you to reduce your position size and be ready to buy some more around the resistance level indicated on the chart. If it breaks below the resistance there's the bottom trendline of the channel however I think we will stay above the resistance level. Make sure to have enough buying power to buy when it pulls back. Good luck.
I hope you enjoyed this very quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.
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