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The FANG Keeps Marching On

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Good morning Traders!

Better the expected earning results for big tech saw the FANG index continue to march higher.

FANG Index

The Daily and the Weekly charts are now in a confirmed uptrend, while the Monthly chart has broken it’s downtrend as it printed a Higher High.

FANG W
FANG M

On the Daily and the 4hr charts, the market is currently overextended from it’s Moving Averages, and I am looking for a pullback to release some of this buying momentum and for price action to catch up with it’s averages.

FANG 4H
FANG D

The area that I am eyeing for the pullback is around the 6200 level, this area acted as support before the market broke through it and closed above it, it is also a round number which could add weight to the strength of the level.

Happy Trading!

Tamar Mehr

Tamar Mehr is a professional trader, neuropsychological trading mentor, FXGlobe Ambassador, and decision-making expert. She’s based in Brisbane, Australia.

Trading Advice Disclaimer:
Our Ambassador’s Daily Picks are not trading advice. These are informational articles covering the events which happened in the market already & scheduled events which are scheduled to happen in the Economic & Earnings Calendar.

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Trading leveraged products such as Forex and CFDs carries a high level of risk thus may not be appropriate and/or suitable for all investors. The investment value can both increase and/or decrease and the investors may lose all their invested capital. The content of this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Under no circumstances shall the Company or affiliated Companies have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to leveraged products.

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