2023 Jan Week 3 NAS100USD Outlook
Technical analysis thesis:
After a huge bullish run from the events of last week, there will more than likely be a correction or retracement throughout the week coming into the 3rd week of the year. (Jan 16 - Jan 20)
If not, then NAS100USD will continue to push price into the range of 12000.0, with this area being a major psychological level for NAS100USD.
With the formation of the double bottom pattern found on the weekly timeframe, I'm expecting a continued bullish direction to at least the said price zone @ 12000.0.
What that means for me:
In terms of my trading this next week, I will be expecting SHORTS on the lower timeframes . If and only if that resistance continues to hold at price zone 11530.0 throughout the Daily timeframe.
After a huge bullish run from the events of last week, there will more than likely be a correction or retracement throughout the week coming into the 3rd week of the year. (Jan 16 - Jan 20)
If not, then NAS100USD will continue to push price into the range of 12000.0, with this area being a major psychological level for NAS100USD.
With the formation of the double bottom pattern found on the weekly timeframe, I'm expecting a continued bullish direction to at least the said price zone @ 12000.0.
What that means for me:
In terms of my trading this next week, I will be expecting SHORTS on the lower timeframes . If and only if that resistance continues to hold at price zone 11530.0 throughout the Daily timeframe.
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