Hello everyone,
Yesterday we saw NAS100 rally at CPI data release. The consumer price index rose 8.5% in July from a year ago below expectations. Core CPI rose 5.9% annually and 0.3% monthly, compared with respective estimates of 6.1% and 0.5% (Excluding volatile food and energy prices).
Technically, the index violated its falling trendline from December 2021 and now trading above it. Right on the falling trendline we have noticed a megaphone chart pattern. We will pay close attention to this pattern, we want to see a break above the pattern and get a fine retest for long position. We will target 13700 as our first goal and then 14300 after good confirmation that price will continue rising.
Traders, if you find this idea helpful please be kind to leave a like.
If you have any opinion please share in the comment section below.
Trade smart:)
Yesterday we saw NAS100 rally at CPI data release. The consumer price index rose 8.5% in July from a year ago below expectations. Core CPI rose 5.9% annually and 0.3% monthly, compared with respective estimates of 6.1% and 0.5% (Excluding volatile food and energy prices).
Technically, the index violated its falling trendline from December 2021 and now trading above it. Right on the falling trendline we have noticed a megaphone chart pattern. We will pay close attention to this pattern, we want to see a break above the pattern and get a fine retest for long position. We will target 13700 as our first goal and then 14300 after good confirmation that price will continue rising.
Traders, if you find this idea helpful please be kind to leave a like.
If you have any opinion please share in the comment section below.
Trade smart:)
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.