Nasdaq Neutral to bullish outbreak.
Nasdaq closed lower yesterday after negative free cashflow from"Micron technolog."But the tight labor market and upper pressure on wages have a big chance of further increasing inflation...Hereby Investors are awaiting the "CORE CPI"Which is above forecast as it often happens this year,Will put the index into another bullish momentum.Yet on my Technical font ,Nasdaq broke the resistance on the falling wedge pattern and the MacD histogram is above 0...Indicating a possible end of the downtrend.
If the bullish pattern continues , The instrument might reach levels of 13 165,But on the otherhand if it is a false breakthrough it might test its previous Low at 12 950
If the bullish pattern continues , The instrument might reach levels of 13 165,But on the otherhand if it is a false breakthrough it might test its previous Low at 12 950
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.