Price on NAS100 has been climbing steadily inside a rising wedge, a pattern that often signals buyer exhaustion and a potential bearish reversal.
As the structure tightened near the top, momentum began to fade, showing signs of weakening bullish pressure.
And then price broke below the wedge support line with a strong impulsive bearish candle.
So my expectation is for price to continue more to the downside with the next downside target at around 23,500.
As the structure tightened near the top, momentum began to fade, showing signs of weakening bullish pressure.
And then price broke below the wedge support line with a strong impulsive bearish candle.
So my expectation is for price to continue more to the downside with the next downside target at around 23,500.
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Related publications
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.