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The medium term outlook for Binary Options in the NASDAQ-100 Future appears to be Bearish, with revised short-to-medium term targets in the 3545 – 3581 price area.
NASDAQ-100 is currently in a Minor Wave 2 of a bigger Cycle Wave 3 impulse.
On the short to medium term, NASDAQ-100 appears to have completed Wave b of the above Minor Wave 2, with Wave b finishing at the 78.6% retracement level of Wave a, with Wave c of Minor Wave 2 expected to complete at the 100% or 127.2% retracement of Minor Wave b — Wave c has points of confluence at both the higher degree Wave 2’s 50% and 61.8% retracement levels, plus volumes indicate further bearish momentum in the short term.
What does this mean for Binary Options traders eyeing the NASDAQ-100 Future in the coming days?
If price continues lower, we are likely to see a further impulsive bearish move towards short-to-medium term targets of around the 3581 – 3545 price area, before subsequent movement long again.
The chart below illustrates NASDAQ-100’s current momentum.
Click The Binary Options Elliott Wave Chart Below To Expand:
Should NASDAQ-100 start to descend, it will be a fairly powerful descent – Binary Options traders will stand to make better decisions when pursuing the price in this current downtrend.
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