Yesterday I mentioned of a parallel channel on NAS100 and predicted the fall. There was a hesitation for bears to break through 13400 and today we see that price has fallen below it. I have also spotted a number of bearish signs that I think the market is shifting momentum to the downside.
The market clearly made series of Hhs and we can agree that bulls were in control. Up to the high of 13720 buyers seemed to lack sufficient strength to push price further. We began to see momentum to the downside. At this point we can clearly see that bulls
are being kicked out cause they failed to push price to create a new Hh.
From a technical stand point we can see a pattern that can be categorized as a head and shoulders pattern so it is a bearish reversal sign. Bulls may be exhausted and bears may be stepping in to change the overall direction of the market.
I am interest to see price fall to 13000-13080.
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Comment your thoughts in the comment section below.
Happy trading:)
The market clearly made series of Hhs and we can agree that bulls were in control. Up to the high of 13720 buyers seemed to lack sufficient strength to push price further. We began to see momentum to the downside. At this point we can clearly see that bulls
are being kicked out cause they failed to push price to create a new Hh.
From a technical stand point we can see a pattern that can be categorized as a head and shoulders pattern so it is a bearish reversal sign. Bulls may be exhausted and bears may be stepping in to change the overall direction of the market.
I am interest to see price fall to 13000-13080.
Follow me for new updates
Support my work with likes. I will highly appreciate it.
Comment your thoughts in the comment section below.
Happy trading:)
