US 100 Cash CFD
Long

NAS100 Hourly Needs More Commitments From Bulls

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FXCM's NAS100 is in the bullish area on the daily chart on the left. The hourly EMAs and stochastic are in bullish mode but each is showing a convergence/loss of momentum. If the EMAs are able to switch to diverging, developing angle, and separation, it may indicate that the short-term traders are starting to align with the daily. A movement of stochastic to 80 level and maintenance of that level (blue arrow) increases the chance of a successful trade. We note the sensitivity of NAS100 to yields, so these will also play a role in determining trade outcomes. Trend following indicators may be useful in this case as a potential exit tool. Stop under hourly support in conjunction with risk management techniques.

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