US100: Bullish Trend

US100, Daily

In the Daily Timeframe, the US100 is in a long-term uptrend. The price has reached the upper trend line, and the %R indicates a significant overbought condition. However, the trend is bullish, and the price may continue to rise further, considering the moving averages and bullish sentiment.

A US100 buy could be considered at 20300 with a target of 21000 corresponding to 261.8 Fibonacci;

Or the price may bounce off the trendline, falling to the support at 19500, and then rally upwards;

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Egor Schmidt

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