The Nasdaq100 chart on a 4h time scale has generated clear technical signals of the next drift lower correction that will test the NDX 9700 points area. A Double top pattern has confirmed the Sell signal with the NDX price/volume trendline has broken below the IKH Senkou nuage, while the MACD oscillators also provided a sell signal. The Nasdaq100 index will drift lower to NDX 10300<10500 range testing the lower support line of the downtrend channel to then bounce back up briefly before turning down definitively onto NDX 9700 points with a big retest of the Q1 2020 ATH.
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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.