US100, Daily
In the Daily Timeframe, US100, in a long-term bullish trend, has formed an ascending channel. The moving averages indicate a continuation of the upward trend, but the price has reached the 161.8 Fibonacci resistance, and two scenarios are possible in this case.
- If the price overcomes the resistance of 19400, further growth can be expected up to 21000, corresponding to 261.8 Fibonacci;
- However, if the US100 bounces, a correction to the trend line to the support of 18000 will begin;
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
