Timeframe: Weekly
Method: Price Patterns (Proprietary)
Analysis: This is a Bearish Scenario for Nasdaq. There is cross between the two main trendlines that are draw in this chart. In the last week we have seen a strong rejection of 15000-15100, from a strong bullish pattern of the last week of trading. If we are looking for a berish trend, the next levels are 13800 and then 12400 (-25% from the all time highs). This scenario is strictly linked to the monthly chart, where we have a bearish pattern.
Target 1: 13800
Target 2: 12400
Method: Price Patterns (Proprietary)
Analysis: This is a Bearish Scenario for Nasdaq. There is cross between the two main trendlines that are draw in this chart. In the last week we have seen a strong rejection of 15000-15100, from a strong bullish pattern of the last week of trading. If we are looking for a berish trend, the next levels are 13800 and then 12400 (-25% from the all time highs). This scenario is strictly linked to the monthly chart, where we have a bearish pattern.
Target 1: 13800
Target 2: 12400
Trade active:
Target 1 reached