Hi Guys,
US indices have ripped up from the recent pullback and back into all time high territory once again.
I have marked a pink box just above price on the Nasdaq where there might be a chance of some selling pressure and maybe a slight pullback, which looks due as it is well extended from its key MAs and 4hr RSI extremely overbought.
The pink box is zone which is the 1.13 retracement of A to B and also the 1.618 trend based extension of b to c to d.
If the pullback from this area ( or just above at the 1.27 retracement of a to b) then it could result in a pullback to point c which would also be a pullback into the golden fib zone ( retracement from b to current high).
Safe trading all
US indices have ripped up from the recent pullback and back into all time high territory once again.
I have marked a pink box just above price on the Nasdaq where there might be a chance of some selling pressure and maybe a slight pullback, which looks due as it is well extended from its key MAs and 4hr RSI extremely overbought.
The pink box is zone which is the 1.13 retracement of A to B and also the 1.618 trend based extension of b to c to d.
If the pullback from this area ( or just above at the 1.27 retracement of a to b) then it could result in a pullback to point c which would also be a pullback into the golden fib zone ( retracement from b to current high).
Safe trading all