An update for my friends the short term traders: The last candle with the small, small body shows us the location of the next short term trading resistance level at 1240-1250. No one wants to pay more and no one wants to sell for less at this level, a typical borderline situation.
The automatic resistance line (blue) confirms the level of round about 1250, but that’s not all, the price tested this level more than one time (08. December until now). This indicates that the level of 1240-1250 could be a strong resistance.
If the bulls have enough power to break this level next week, the next short term trading resistance level may be 1280-1290. But if they fail, visit the support line at approximately 1190 and perhaps you can hear the impact.
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Tags: nasdaq 100, stock chart
50/50 shot.
Follow the signals and be disciplined. I’ve learned from experience that the signals will lead you down the right path more often than not. You just need the strength of mind to act.
Profitable trading,
Matt
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