Trading scenarios for $NDX for 01-05 March 2021
Trend:
Daily/Weekly/Monthly: Down/Down/Mixed
Very bearish weekly candle last week. #NDX is weak but at important support, which held on Friday.
3 possible scenarios:
1) Break of 12678, target 12427 and further 12097
2) As long as 12678 holds, look for longs, targeting 13335, which is a strong R. If we break this R, look for move to 13559-13607 zone.
3) 12678 holds and we target 13335. Rejection off 13335, for a move back lower to 12427
IMO, scenario 3 is most likely.
Daily/Weekly/Monthly: Down/Down/Mixed
Very bearish weekly candle last week. #NDX is weak but at important support, which held on Friday.
3 possible scenarios:
1) Break of 12678, target 12427 and further 12097
2) As long as 12678 holds, look for longs, targeting 13335, which is a strong R. If we break this R, look for move to 13559-13607 zone.
3) 12678 holds and we target 13335. Rejection off 13335, for a move back lower to 12427
IMO, scenario 3 is most likely.
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