The NAS100 daily candlesticks are trading in their bullish channel between the upper blue and red bands. Yesterday's candle has a lower shadow, connoting buying off the lows.
The hourly chart also showing signs of strength. The trend-following EMAs have crossed up, and it looks as if the momentum-based stochastic is about to follow suit (black ellipses). If it crosses, then a move to the upper quintile (blue arrow) suggests an underlying upwards momentum may be setting in.
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.