NASDAQ: Breakout of Channeling, Sign of Bull Run Ahead?
Updated
Here's a Technical outlook on NASDAQ!
Fundamental Drives
-Easing Inflation Data ( CPI data is 6.5% lower than the prior month's data of 7.1%)
-Possible Slower Rate Hike in the future or Stop hiking interest rates in the upcoming months by the Fed
Price Action Analysis
NASDAQ has already breakout of the upper trendline with an impulsive candlestick. After the breakout of the upper trendline, the index kept creating higher highs and higher lows on Daily Timeframe. The Price Movement above the Exponential Moving Average ( EMA ) of 200 also confirms the bullish trend. The MACD Indicator made a golden cross, signifying a possible upside movement in the long run.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/Support area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the NASDAQ"
Fundamental Drives
-Easing Inflation Data ( CPI data is 6.5% lower than the prior month's data of 7.1%)
-Possible Slower Rate Hike in the future or Stop hiking interest rates in the upcoming months by the Fed
Price Action Analysis
NASDAQ has already breakout of the upper trendline with an impulsive candlestick. After the breakout of the upper trendline, the index kept creating higher highs and higher lows on Daily Timeframe. The Price Movement above the Exponential Moving Average ( EMA ) of 200 also confirms the bullish trend. The MACD Indicator made a golden cross, signifying a possible upside movement in the long run.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/Support area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the NASDAQ"
Note
Sign of Bullish Continuation. Breakout of Descending Broadening Wedge!Note
Create another bullish continuation Pattern-Daily TimeframeTrade closed: target reached
Done Target 1, Will it hit the fan or continue its bullish bias?Trade closed: target reached
Stop at the second target as we expected to be :)
Related publications
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.