NAS100 (OCTOBER 2024)
New ALL TIME HIGH in the near future for NAS100???
While the possibility of a new All Time High and a push up further up for NAS100 is foreseeable. We have to keep in mind that there is a strong resistance level (0.618 shown) that has been holding its ground, to say the least.
October could set the tone for the remainder of the year, if it could go above and close the month off above that 0.618 level ($20 163.90). Should that happen, we could see a nice bull run to very nice and new highs for the rest of the year.
It is worth noting that the Fibonacci Trend Based Extension (plotted in blue) is based of the 12M timeframe which would hold the most amount of weight to the areas. If you take a look at the chart you would notice the rejections and breakthroughs in certain months and what followed those accordingly.
As it is still early day's of the month, it would be better paying attention towards the last few day's to see if this month would breakthrough the 0.618 or reject off it to know what type of market we heading for in November.
Until then, tread cautiously & HAPPY TRADING :)
While the possibility of a new All Time High and a push up further up for NAS100 is foreseeable. We have to keep in mind that there is a strong resistance level (0.618 shown) that has been holding its ground, to say the least.
October could set the tone for the remainder of the year, if it could go above and close the month off above that 0.618 level ($20 163.90). Should that happen, we could see a nice bull run to very nice and new highs for the rest of the year.
It is worth noting that the Fibonacci Trend Based Extension (plotted in blue) is based of the 12M timeframe which would hold the most amount of weight to the areas. If you take a look at the chart you would notice the rejections and breakthroughs in certain months and what followed those accordingly.
As it is still early day's of the month, it would be better paying attention towards the last few day's to see if this month would breakthrough the 0.618 or reject off it to know what type of market we heading for in November.
Until then, tread cautiously & HAPPY TRADING :)
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