For the past 13 months, NAS100 has stayed about the 6200-6300 supply zone to maintain an overall bullish trend.
However, since this level has been broken, it could simply mean that the bull is out of steam and the bear is taking charge now.
This can be further confirmed by the recent appreciation of some of the safe haven asset such as gold and Swiss franc.
While the price has broken through deeply, the retracement also appears nothing close to shallow.
Wait for the price to retrace further into the demand zone at 6500 to sell.
However, since this level has been broken, it could simply mean that the bull is out of steam and the bear is taking charge now.
This can be further confirmed by the recent appreciation of some of the safe haven asset such as gold and Swiss franc.
While the price has broken through deeply, the retracement also appears nothing close to shallow.
Wait for the price to retrace further into the demand zone at 6500 to sell.
