Nasdaq weekly update
On the weekly chart Nasdaq is probably going to test downtrend (yellow) line and that could indicate beggining of the market recovery. After that the next step would be reclaiming 11967 resistance zone (red dashed line) and then we could talk about some serious recover. Also price formed new possible trend (red line) that also indicates some bullish momentum.
Support zone is green zone and if the price gets rejected from the downtrend line or some other zone there could be new spot where I am expecting price action.
Price recently got above EMA200 and staying above it would confirm start of turnover in market bias.
Support zone is green zone and if the price gets rejected from the downtrend line or some other zone there could be new spot where I am expecting price action.
Price recently got above EMA200 and staying above it would confirm start of turnover in market bias.
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.