US100: Bullish Trend

US100, Daily

In the Daily Timeframe, the US100 is in a long-term uptrend. The price has reached the upper trend line, and the %R indicates a significant overbought condition. However, the trend is bullish, and the price may continue to rise further, considering the moving averages and bullish sentiment.

• A US100 buy could be considered at 20300 with a target of 21000 corresponding to 261.8 Fibonacci;

• Or the price may bounce off the trendline, falling to the support at 19500, and then rally upwards;