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After getting rejecting from the ALL TIME HIGH region, NASDAQ tried to retest that zone again and saw a rejection once more.
But even though it saw a rejection, there is a good chance now that with subsequent re-tests of the 120 -121 region, bulls may be able to break past that resistance zone.
In that case, Nasdaq would see new ALL TIME HIGHS and may turn others markets bullish too.
But be very cautious if you are trying make your trades around this idea as there may be a bull trap waiting and we may just see a good dump too.
We haven't seen a good pull back in Nasdaq since it's run up from the crash and thus we can also see that in the near future. Keep that in mind as a bearish case scenario.
Please note: These are my views and not trading advice. Please consult your financial adviser before taking any trading decision.
Daily RSI
NASDAQ- 57 ( Neutral Zone)
“In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee
Before you start reading kindly hit that like button and follow. It motivates me to keep doing such work for free.
Thanks
After getting rejecting from the ALL TIME HIGH region, NASDAQ tried to retest that zone again and saw a rejection once more.
But even though it saw a rejection, there is a good chance now that with subsequent re-tests of the 120 -121 region, bulls may be able to break past that resistance zone.
In that case, Nasdaq would see new ALL TIME HIGHS and may turn others markets bullish too.
But be very cautious if you are trying make your trades around this idea as there may be a bull trap waiting and we may just see a good dump too.
We haven't seen a good pull back in Nasdaq since it's run up from the crash and thus we can also see that in the near future. Keep that in mind as a bearish case scenario.
Please note: These are my views and not trading advice. Please consult your financial adviser before taking any trading decision.
Daily RSI
NASDAQ- 57 ( Neutral Zone)
“In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee