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NASDAQ breaks out of down channel: Setup for fall or double top?
NASDAQ established a down channel but broke out last night into what looks like a descending triangle (DT). If it is a DT, then that is a bearish sign and it could be a setup for a Wave C of a Zig zag down to the Feb support line. Otherwise, it could be consolidating and ready to break up to the resistance line for a double top.
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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.