Red lines are support turned resistance and the Green lines are support.
Nasdaq dropped on Monday breaking support before closing above the support. It should be noted that the market was oversold on the rsi so a bounce was imminent. The market has had a great recovery since then and we can expect the market to reclaim some ground and even make an all-time high if sentiment changes.
However, I very much doubt this and think the market is just flipping the former support to resistance and will reclaim this week's lows soon.
Both strategies have been mapped for bulls or bears.
Nasdaq dropped on Monday breaking support before closing above the support. It should be noted that the market was oversold on the rsi so a bounce was imminent. The market has had a great recovery since then and we can expect the market to reclaim some ground and even make an all-time high if sentiment changes.
However, I very much doubt this and think the market is just flipping the former support to resistance and will reclaim this week's lows soon.
Both strategies have been mapped for bulls or bears.
Trade active:
moving bearish as said
Trade closed: target reached:
target reached