NAS100 is showing signs of bullish reversal. The index is printing what seems to me as an inverse head and shoulders pattern. I am now anticipating a completion of the right shoulder formation. If price can be able to break the neckline and bulls defend 12500 psychological level, we could see the beginning of strong bullish momentum and it means we might begin to see change of trend. For this pattern to be valid, we have to wait for the neckline to be completely violated, and perhaps waiting for some further bullish confirmation on lower timeframe.
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