What's up everybody?
Let's take a look at NAS100 and the current situation on it. As I discussed in my previous idea, NAS100 broke below its rising trendline previously and began to consolidate for a while building up a cluster of candles. Earlier today we witnessed the market breaking out of the cluster candles to the bottom turning the level into a supply zone. Currently we are seeing NAS100 pulling back into this area.
If you missed the earlier sell opportunities, you can possible catch this one. As the market is pulling back into the supply zone, I believe the market will have difficulties passing through the supply zone at least for now. Bears will strongly defend this zone since the market was held for hours in this zone and expect the market to keep falling. 1131 and 1114 are ideal levels to set targets.
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