04/01 Yesterday Nasdaq rebound wave hit 20 Day-Moving-Average (DMA) and previous defined resistance 7788. 20 DMA becomes important guideline for next 1-2 weeks to find its either new low (6185) or higher low.
very close to the 7295 support today. You reckon its going to blow past that support?
marketfellow
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@ayatoll,
Yes. Even there is a minor bounce (1-2 days) on 7295, it is unlikely to hold, in my opinion. Downside target is 6185 for 1-2 weeks timeframes.