Technical Analysis of Daily Price Movement of Nasdaq 100 Index, Thursday May 11, 2023.
May 11, 2023 6:24 am
On the daily chart, Nasdaq 100 index seems moving inside the Bullish Pitchfork channel harmoniosly where #NDX currently struggle to continue its rally by trying to test the level of 13720,3. However, with the appearance of deviation between #NDX price movement with Awesome Oscillator indicator gave the clue if there is a potential of downward correction in #NDX. But, as long as the downward correction does not go below the level of 12739.6 then #NDX still has a chance to continue strengthening.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the daily chart, Nasdaq 100 index seems moving inside the Bullish Pitchfork channel harmoniosly where #NDX currently struggle to continue its rally by trying to test the level of 13720,3. However, with the appearance of deviation between #NDX price movement with Awesome Oscillator indicator gave the clue if there is a potential of downward correction in #NDX. But, as long as the downward correction does not go below the level of 12739.6 then #NDX still has a chance to continue strengthening.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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