Nasdaq
As nasdaq contiues to struggle the monthly 21 ema as reistance it’s time to get cautious. Although price looks very bullish here and I can agree. We also have to pay attention Becuase these levels are extreme levels of potential bear market reistance setups
The Nasdaq doesn’t have as much data in monthly as spy so it’s harder to really make
A comparison. At least on the chart I have here but it is going to be a struggle
I do like the 50 ema curling to upside here but we are far away from it at this point so it’s possible if we are building a large considlation pattern here we have room to go back and test the 50 ema area again to double bottom of it around 11,500
If Nasdaq can pop 13,500 and hold as support opening a monthly candle above this could signal a very large move up, Howver for now it’s more logical to expect a rejection here in coming weeks
The Nasdaq doesn’t have as much data in monthly as spy so it’s harder to really make
A comparison. At least on the chart I have here but it is going to be a struggle
I do like the 50 ema curling to upside here but we are far away from it at this point so it’s possible if we are building a large considlation pattern here we have room to go back and test the 50 ema area again to double bottom of it around 11,500
If Nasdaq can pop 13,500 and hold as support opening a monthly candle above this could signal a very large move up, Howver for now it’s more logical to expect a rejection here in coming weeks
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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.