NASDAQ - Daily - Time for a bit of retracement?

TVC:NDX   NASDAQ 100 Index
Trade Alert

It looks like Nasdaq is on the verge of breaking the short-term upwards moving trendline , drawn from the low of the 25th of April. If we see a close below that trendline on the daily chart , then we could start aiming for the 7105 mark, a break of which, could confirm the downside scenario.
We would then be targeting the 7000 zone.

If the index reverses back to the upside, for us to become bullish , we would need to see a break of the 7310 level, which could open the way towards the new all-time highs.

Be careful and have your SL in place.


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