NAS 100- price has broken above 29240 and currently reacting at the trend resistance from the 29300-price level. I'll be expecting a retest of the 29240-price level as support for price to continue its bullish move.
Nas 100 surged today trading above 29445 price level, starting the first week of the month with massive bullish movements as the US ISM services PMI data release improved this month compared to last month.
NAS 100- Friday Update- price continues its rally from the 29445-price level driving towards 29700 price level. a break above this level and we'll see price reach 30,000
On the weekly, price started bearish but as at yesterday was completely flipped bullish showing the bulls have overwhelmed the bears this week from the opening price at 29455.
Still on the weekly, the current price action for the first week of September has a similar candlestick pattern with first week of July's price action this year, where the week closed with a strong bullish pin bar at the 29875 price level.
More on the weekly, from the line chart, price has formed a weekly low at the 29300-price level, and the bullish move should be able to rally price above last week's high at 30056 before end of today.
If price fails to break and close above last week's high at 30056, then I'll expect next week's price action to take out this week's low and drop down to 29,000.
Summary of my weekly expectation is for price to rally to 30,000 price level and react strongly for sells. If price breaks above it then, the rally continues to new ATH.
Still on the Daily, a bullish ascending channel has been formed. Expecting price to trade within the confines of this channel next week. invalidation of the trend support, and price will go bearish.
Still on the Daily, a bearish flag that formed last month is getting invalidated this week. watching out to see if price will completely be free from potential sells by breaking and closing above 30,000 resistance price level.
On 4hr, I'll be expecting price to react at the neckline resistance level, making price to retest the internal support at 29445. But if price breaks this level, then expect a strong drop to 29228.
NAS 100- 1hr Trade setup price is slowing down the bullish momentum as it approaches the resistance level at 29661. I'm expecting a sell reaction at the level dropping price to the internal support at 29200, and the NFP to possibly start with sells before buying. but I'll likely be trading post NFP.
NFP made the daily candle to slightly reduce because of the brief sells. If the daily closes below yesterday's high, then next week will start with sells.
