Mihai_Iacob

Nas100 finally broke support

Short
PEPPERSTONE:NAS100   US 100 Cash CFD
As you know from my previous posts, I'm bearish Nas100 and over the past few weeks, I warned twice of the possibility of a drop.
With my first target hit at 14500, now I'm looking towards the second one from 13500.
As we can see from the posted chart, since mid-July, Nas100 has traded contained in a descending triangle and yesterday, the support of the triangle was clearly broken
Judging from the measured target of the pattern and the next important level of horizontal support we could expect the price to continue down and drop to 13500.
The traders' strategy should remain the same: Sell rallies with negation above 15k

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