Chart of the Day - Wednesday, March 17th, 2021
March 17, 2021
Today’s Chart of the Day was shared on Twitter by Yuriy Matso (@yuriymatso). It's a one-hour candlestick chart of the Nasdaq 100 futures over the past two months. Nasdaq futures are testing a well-defined short-term resistance level around 13250. As you can see, price has failed at this level three times over the past month. Yuriy points out that this level coincides with the 61.8% Fibonacci retracement of the Feb-March decline. Will the fourth time be the charm? Or, do we fail again here and continue lower? Either way, we'll likely know very soon, so pay attention to how price behaves around the 13250 level in the near-term.