As is shown, in my judgement there is a short term Nasdaq retracement imminent. RSI shows that resently the nasdaq index has been overbought and is therefore a great time to sell short, this is further strengthened by the apparent trend in the market, where the nasdaq if forecastet correctly soon will hit a resistance level.
I believe that this is a short term retracement and will lead to a great bullish position after this retracement/bear rally. I will wait to we hit a reassonable support level and then get into a bullish position. As i believe that the tech trend is not yet done.
Trade at your own risk.
I believe that this is a short term retracement and will lead to a great bullish position after this retracement/bear rally. I will wait to we hit a reassonable support level and then get into a bullish position. As i believe that the tech trend is not yet done.
Trade at your own risk.
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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.