CPI data will play a key role in pushing Nasdaq up or down. Currently RSI is showing bearish divergence (Lower High).
2 possible scenarios here:
1) If RSI break above Green and White trendline then we can expect price to move up around 12800 level mark.
2) If RSI breaks below Red trendline then we can expect price to go down and re-test at Daily 200 MA (~ 12000).
2 possible scenarios here:
1) If RSI break above Green and White trendline then we can expect price to move up around 12800 level mark.
2) If RSI breaks below Red trendline then we can expect price to go down and re-test at Daily 200 MA (~ 12000).