NAS100 H4

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Price has reached the monthly retest zone along with the ascending trend line & 61.8 fibonacci retracement. This could be a big indication that price could be preparing to move higher again. Although, currently price has broken the last higher low structure support, so in order to get proper confirmation a conservative approach would be too look for price to break above the structure again & retest as support for confirmation to look for long positions on indices again. We must wait for price action to develop early this week in this key region..

If price is to break this region to the downside sharply, then we can also look for more downside movement to come.

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Monthly: Retest level

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Previous resistance structure retest

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On 30 minute a lower boundary trendline has been identified & it is also a 3rd touch that occurred which could bring in a powerful movement to the upside

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US dollar index channel, key level, structure, downtrend, cycle length to the bottom of the channel can occur below this region as well.

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+250 Pip move today!