NAS100 60m - Over-extended?
Price currently testing resistance around $15,400 (resistance previously shown at this level on both the 25th August and 27th September 2021).
Bearish divergence as shown by increasing prices along with decreasing momentum (referring to the RSI)
With the 200 hour EMA currently as low as $14,999, NAS100 looks over-extended.
I believe NAS100 still has a long way up to go over the following months, however, depending on your trading style there could be a low risk short opportunity, or an opportunity to wait and buy the dip.
Invalidation: 15440/15460
TP1: 15098
TP2: 15012
TP3: 14964
Bearish divergence as shown by increasing prices along with decreasing momentum (referring to the RSI)
With the 200 hour EMA currently as low as $14,999, NAS100 looks over-extended.
I believe NAS100 still has a long way up to go over the following months, however, depending on your trading style there could be a low risk short opportunity, or an opportunity to wait and buy the dip.
Invalidation: 15440/15460
TP1: 15098
TP2: 15012
TP3: 14964
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