The current structure of the NDX100 stock index suggests the formation of a global downtrend that moves inside a large green channel.
After the last rebound from the lower green wall in the second half of May, there is a high probability that in the near future the market will continue its upward movement inside the bullish yellow channel, as shown on the chart.
SimpleFX NDX100 Chart Analysis: June 8, 2022.
Most likely, the bulls are targeting the resistance level of 13428.9, which is located on the upper yellow wall. If this level breaks, the growth can be continued to the next resistance level of 13693.0, located on the upper green line.
Alternatively, it is assumed that bears can bring the market to the support level of 12157.4, and then break through it. If the specified level is broken, the downward trend will be confirmed, and the fall of quotations will continue to the lower yellow wall and the support level of 10885.8 which is on it.
An approximate scheme of possible future price movement is shown by trend lines.
With a downward price movement, it is worth considering opening sales orders. When confirming a bullish movement, it is recommended to consider opening purchase orders. An approximate scheme of possible future price movement is shown by trend lines.
