Facts:

• RSI [14] indicates a level of around 44.
• Williams %R [15] indicates a level of -73.
• Price defended the level around 28,300 (EMA100 average).

Recommendation:

• Long position (buy) on US100 at the market price.
• Target price (Take Profit, TP): 31,750
• Stop Loss (SL): 27,750

US100 (D1)

Source: xStation5 OPINION : The price of the contract on Wall Street’s main technology index has been moving within a descending channel over the past 2 months. Strong resistance at the EMA100 average, combined with the RSI and Williams indicators, creates favorable conditions for an upward corrective move.

Methodology and assumptions:

• The recommendation is based on technical analysis of the chart, in particular EMA averages and Fibonacci levels.
• The target level was determined based on Fibonacci levels.
• The protective stop-loss order was set based on a favorable risk-to-reward ratio and on a Fibonacci level.