NASDAQ INDEX (US100): Potential Scenarios Ahead of FOMC

11 giu

https://www.tradingview.com/x/BcRo1ujD/

NASDAQ Index is currently consolidating within a horizontal range.
Most likely, the market participants are waiting for the FOMC tomorrow.

Depending on the reaction of the market to the boundaries of the range,
I see 2 potential scenarios.

Bullish Scenario
If the market breaks and closes above 19115 the resistance of the range,
with a high probability, a bullish rally will continue.

Bearish Scenario
If the Index breaks and closes below 18880 the support of the range,
it may initiate a correctional movement.

I think that US100 may keep being weak before the news release.
Let's see what direction the market will choose tomorrow.

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