AlanSantana

NASDAQ Bearish Scenario Can Unfold

Short
CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
Here we have the NASDAQ ( NQ1! ) chart showing some bearish potential.

Last week prices closed below EMA10 and EMA21, when this happened in the past we had a strong correction.

We have the MACD trending down after a bearish cross.

We also have bearish Divergence with the MACD since August 2020:
The RSI is also trending lower as has broken below 50 weekly.

We have bearish divergence since Jan. 2020:
We see lower highs on the indicators ( RSI and MACD ) while we are getting higher highs on the NQ1! .

We have two main targets mapped on the chart.

Conditions for change
This analysis is invalidated if there is a weekly close above EMA10 or 15769.5 on the NQ1! .

Thank you for reading.

Namaste.
Trade active: First target hit.
More to come. We continue RED.

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