Weekly chart of US 100 index is suggesting that the possibility of a crash in US stock market is rather high!
In fact the index is already in the heavy resistance zone of 19,000 - 20,400 and bearish divergence can be seen (both mid-term and long-term)
While the index is inside the resistance zone, breaking below the blue trendline is the confirmation for the huge drop and will lead to a huge sell pressure in the market.
The reason for this possible crash is probably weak data related to the labor market. Having a Buy position in US stock market is indeed risky these days as the index can even touch Oct 22 low and probably even lower levels if the drop is confirmed!! #NDQ #US100
In fact the index is already in the heavy resistance zone of 19,000 - 20,400 and bearish divergence can be seen (both mid-term and long-term)
While the index is inside the resistance zone, breaking below the blue trendline is the confirmation for the huge drop and will lead to a huge sell pressure in the market.
The reason for this possible crash is probably weak data related to the labor market. Having a Buy position in US stock market is indeed risky these days as the index can even touch Oct 22 low and probably even lower levels if the drop is confirmed!! #NDQ #US100
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.