Nasdaq 100 Technical Forecast for the Days Ahead
The Nasdaq 100 is breaking out of a consolidation pattern, and as long as it can close in breakout territory the trading bias will remain bullish. A potential target is the top-side trend-line off a one-year channel, this clocks in at around 15,600. Should the NDX fail back inside the consolidation pattern, then we would need to change the trading bias to neutral or negative.
Nasdaq 100 Daily Chart
Resources for Forex Traders
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---Written by Paul Robinson, Market Analyst
You can follow Paul on Twitter at @PaulRobinsonFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.