Hi Guys,
I posted recently about the Nasdaq approaching what I think may be strong resistance.
Just update on that idea.
Just update on that idea. In the last week or so , the recent high has made formation of a perfect bearish parallel channel , which heads into that zone and the upper line will serve as resistance. It would be ideal if price does not touch the upper line as it would indicate weakness in the upward momentum, thus more bearish confirmation.
Also Daily RSI has now headed back into overbought with divergence. The fact that it has enterd overbought and showing divergence as it heads into the zone gives me more confidence that we will see some resistance at that zone. 4 hour RSI is also showing the same RSI overbought and divergence.
Safe Trading all
I posted recently about the Nasdaq approaching what I think may be strong resistance.
Just update on that idea.
Just update on that idea. In the last week or so , the recent high has made formation of a perfect bearish parallel channel , which heads into that zone and the upper line will serve as resistance. It would be ideal if price does not touch the upper line as it would indicate weakness in the upward momentum, thus more bearish confirmation.
Also Daily RSI has now headed back into overbought with divergence. The fact that it has enterd overbought and showing divergence as it heads into the zone gives me more confidence that we will see some resistance at that zone. 4 hour RSI is also showing the same RSI overbought and divergence.
Safe Trading all
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.