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Nasdaq 100: sharp move imminent, but in which direction?

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Nasdaq 100 has been repeatedly hitting resistance around the July high of 4693, although it did manage to climb above here for a few days at the start of November. However, that breakout lacked conviction and the bulls were unable to hold their nerves for too long. As a result, it fell back all the way near resistance-turned-support around 4455 by mid-November. Here, the tech-heavy index found support, leading to another rally towards 4693 again. But as can be seen on the daily chart, a

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