Crude oil prices spiked by about 8% before retracing in the late trading hours yesterday. Gold (XAU/USD) fell by more than 5% as hopes for further fiscal stimulus faded.
An effective and readily-available vaccine will be a major game-changer across the financial markets. With a vaccine, business activities are likely to increase dramatically, cutting down reliance on digital facilities. The recent rally in the energy, finance, and industrial sectors alongside the fall in the tech sector like tech-heavy Nasdaq 100 (NDX) paints a good picture of what is to come.
A strong rebound in the demand for travel, tourism, leisure, luxury goods, restaurants, and traditional retail is expected. While demand for digital services may remain, it is likely to be on the lower end. That said, investors appear to have made a significant switch from big tech stocks into the long-underperforming traditional industries last night, highlighting a change in sectoral rotation.
Nasdaq 100 (NDX) Value Forecast — November 10
NDX Major Bias: Bearish
Supply Levels: 11890, 12000, and 12220.
Demand Levels: 11650, 11307, and 11000.
The NDX has come under intense pressure, following the drastic shift in market risk tone. That said, we expect to see further declines in the index’s price soon. Expect to see the NDX hit the 11307 support in the coming hours or days.
On the flip side, the NDX could stall a bit or climb higher, but a break above the 12000 seems very unlikely at this time.
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.