NASDAQ 4H OUTLOOK
NASDAQ 4H TIMEFRAME
1. Trend and Structure
• Current High and Monthly Resistance:
The NASDAQ is currently at a high of 18950.0, facing monthly resistance, which is indicated by a bearish candlestick.
• Monthly Support Levels: The index has broken above the 18390.3 level, which is a significant monthly support level.
2. Support and Resistance Levels
• Monthly Resistance: 18950.0
• Monthly Support: 18390.3
3. Trendlines and Patterns
• Supporting Trendline: The trendline indicates a bullish structure.
• Potential Reversal Zone: Watch the yellow zone for a possible M pattern (double top) formation, suggesting a potential reversal if confirmed.
Conclusion
• Current Bearish Signal: The bearish candlestick at the 18950.0 resistance indicates selling pressure.
• Key Levels: Monitor reactions at the 18390.3 support and the potential M pattern formation in the yellow zone for possible reversal signals.
1. Trend and Structure
• Current High and Monthly Resistance:
The NASDAQ is currently at a high of 18950.0, facing monthly resistance, which is indicated by a bearish candlestick.
• Monthly Support Levels: The index has broken above the 18390.3 level, which is a significant monthly support level.
2. Support and Resistance Levels
• Monthly Resistance: 18950.0
• Monthly Support: 18390.3
3. Trendlines and Patterns
• Supporting Trendline: The trendline indicates a bullish structure.
• Potential Reversal Zone: Watch the yellow zone for a possible M pattern (double top) formation, suggesting a potential reversal if confirmed.
Conclusion
• Current Bearish Signal: The bearish candlestick at the 18950.0 resistance indicates selling pressure.
• Key Levels: Monitor reactions at the 18390.3 support and the potential M pattern formation in the yellow zone for possible reversal signals.
Disclaimer
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