Nasdaq Analysis
Hi Guys,
Yesterday, we had a fake break on the downside on the lower timeframe taking out alot of stops, pushing the price further up and making new highs. As you can see from the daily a wedge has been formed and we are now coming to the top of this wedge, where price is expected to drop to area of 13515. If price does break out this wedge then we can expect more new highs taking prices to 13561.
Yesterday, we had a fake break on the downside on the lower timeframe taking out alot of stops, pushing the price further up and making new highs. As you can see from the daily a wedge has been formed and we are now coming to the top of this wedge, where price is expected to drop to area of 13515. If price does break out this wedge then we can expect more new highs taking prices to 13561.
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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.