NAS100 possibility of a short term bullish rally!
NAS100 looks like it is printing a local demand zone at around 12000. One thing which is also interesting is that the index is printing a classic bullish reversal pattern. I assume the index is setting up for a short term bullish rally. For this setup to be validated and confirmed I will rather wait to see the falling wedge pattern getting violated to the top with clear confirmation of a bullish run (I will then have a clear perspective that bulls can be able to shift price to at least 13000).
On the other hand, if bears can be able to close below 12000 then it is more likely that price will keep on falling.
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On the other hand, if bears can be able to close below 12000 then it is more likely that price will keep on falling.
If you find this idea helpful please be kind to a leave a like.
If you have any suggestion or opinion, make use of the comment section below.
Happy trading!
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