Nasdaq (NDX) has been trading within a Descending Triangle pattern and following a rebound on its 4H MA50 (blue trend-line) last Wednesday, it is rising towards its Resistance (pattern's Top).
As long as it stays below, there are stronger probabilities for a 1D MA50 (red trend-line) test at 29100. That is supported by the fact that the 4H RSI is currently on a similar Channel Down pattern that formed the June High.
If on the other hand the Resistance breaks, expect a symmetrical +8.61% total Bullish Leg like the previous one, targeting 32100.
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As long as it stays below, there are stronger probabilities for a 1D MA50 (red trend-line) test at 29100. That is supported by the fact that the 4H RSI is currently on a similar Channel Down pattern that formed the June High.
If on the other hand the Resistance breaks, expect a symmetrical +8.61% total Bullish Leg like the previous one, targeting 32100.
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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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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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.