On our last Nasdaq (NDX) call (see chart below), we took a short-term buy after a bullish break-out above a key Fibonacci level:
The index made an even more critical break-out yesterday, as it broke above Resistance 1 (15285) which had in the last 30 days two clear rejections (June 16, July 05). This is a technical bullish break-out signal, on a 1D RSI above its MA and the price on a rise after getting close to the Channel Up pattern from the start of the year. The 1D MA50 (blue trend-line) has been supporting the majority of this strong uptrend in the past 4 months.
The upside potential extends as high as Resistance 2 (January 04 2022 High) at 16570 but we will pursue a more modest target. The minimum on the previous bottom rebound was the Fibonacci 2.0 extension. As a result, we are buying this break-out and target 15900.
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The index made an even more critical break-out yesterday, as it broke above Resistance 1 (15285) which had in the last 30 days two clear rejections (June 16, July 05). This is a technical bullish break-out signal, on a 1D RSI above its MA and the price on a rise after getting close to the Channel Up pattern from the start of the year. The 1D MA50 (blue trend-line) has been supporting the majority of this strong uptrend in the past 4 months.
The upside potential extends as high as Resistance 2 (January 04 2022 High) at 16570 but we will pursue a more modest target. The minimum on the previous bottom rebound was the Fibonacci 2.0 extension. As a result, we are buying this break-out and target 15900.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.