- US100 yesterday fell short of record high at 6019
- Possible double top pattern in play
- However, break above 6019 would pave the way for further upside
Overall, its been another good week for U stock markets with the US500 and US30 both posting record highs. The US100 however has been lagging somewhat and Thursday’s decline came after the market fell just short of the all-time high at 6019.
The US100 stopped just short of its record high at 6019. If price remains below here than a double top could be forming. Source: xStation
Price is today once more approaching the record high and if there is a reversal sign here it may offer an attractive opportunity to enter short. According to the client sentiment on the XTB website, 84% of clients in this market have a short position.
The client sentiment shows that 84% of XTB clients are short this market. Source: XTB.com