US 100 Cash CFD
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NAS100 H2 analysis

221
Week from 27 July
Fundamentals: Strong US-China tensions, increasing severity with COVID-19, Increased jobless claims and Microsoft and Apple taking huge hits. P/E ratio hits all-time highs signalling an overbought and overvalued market. However, the federal reserve intends to release an additional $3 trillion which could cause the price to bounce of resistance.
Technical:
Bearish:
-Double top formation on H4
-Head and shoulders pattern on M15
Signalling a possible trend reversal if price breaks trend line around the 10368 area.
Bullish:
- Ascending triangle on M5 signals a possible retracement to 11000 area or previous resistance at the 10600 area.
-Price action oversold
This week I am looking for short positions with bearish confirmation on lower timeframes.

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