After its rebound, the NASDAQ index is in a small range of 13800 to 143000. It appears to be trapped in a zone and break out or breakdown will follow a decisive move. When that move will happen?
Have to wait for it and watch it happen... then we will know.
Daily technical indicators suggest a skew to the downside, but the 4H technical indicators indicate a potential bounce up.
Let's wait and see what develops...
Have to wait for it and watch it happen... then we will know.
Daily technical indicators suggest a skew to the downside, but the 4H technical indicators indicate a potential bounce up.
Let's wait and see what develops...
Comment:
So... Monday morning Asian time, we see the expected spike down, fueled (pun not intended) by the weekend talk about Russian oil embargo.
It has broken down of the range (box); and now for the last low target...
lower low or higher low shall we see?
Really MUST NOT breakdown 13K... would be very bad news or there was very bad news.
It has broken down of the range (box); and now for the last low target...
lower low or higher low shall we see?
Really MUST NOT breakdown 13K... would be very bad news or there was very bad news.
Comment:
VERY close to 13K currently... at 13137.
Quite obvious to have enough bandwidth to pierce through 13K within the week.
Quite obvious to have enough bandwidth to pierce through 13K within the week.
Given the technical indications, it will break down and should push down to the last low.
Then it would be an interesting question of a lower low or a higher low next.