Inside Bar and Outside Bar on US100

Inside Bar and Outside Bar on US100

US100 quotes have been declining. The trading instrument has updated local lows. The current technical pattern signals a continuation of the correction movement after a prolonged growth. Some classic patterns of Price Action, "Inside Bar" and "Outside Bar", (H4 timeframe), have been formed. The mark of 11350.0 is local support. We recommend paying attention to this situation.

If the price fixes below 11350.0, further correction of US100 quotes is expected. The nearest goal for profit-taking is 11190.0. The movement is tending to the zone of 10970.0-10700.0. Confirmations and entry points to the market should be looked for on lower timeframes. When following positions, we recommend using a trailing stop.

by JustMarkets, 2020.10.27

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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