NAS100 completed it's inverse head and shoulders pattern!

Hey everyone,

We discussed about NAS100 yesterday and mentioned of the possibility of an inverse head and shoulders formation on it. Today it looks like this pattern has been completed. The left shoulder, head and right shoulder have been established and the market broke above the key level.

There's high chance that NAS100 will rise at least for a brief rebound to the upside seeing that the stock market has been oversold for an extended period of time. With this pattern in mind, I expect buyers to defend the violated key level. If they can be able to, then 12600 will be an easy reach for the bulls.

I will continue to monitor the behavior of price above the key level to look for more buying opportunities.

If you enjoy reading my ideas please be kind to leave a like.

Yesterday we were able to catch the beginning of this long term move to the upside.



If you didn't see yesterday's idea, here it is. Follow the link below to read more about the idea.

NAS100 was able to break above a structure on lower timeframe. Well, this is one of my favorite structures that I look for in any market.