Fundamental Drives -Easing Inflation Data ( CPI data is 6.5% lower than the prior month's data of 7.1%) -Possible Slower Rate Hike in the future or Stop hiking interest rates in the upcoming months by the Fed
Price Action Analysis NASDAQ has already breakout of the upper trendline with an impulsive candlestick. After the breakout of the upper trendline, the index kept creating higher highs and higher lows on Daily Timeframe. The Price Movement above the Exponential Moving Average ( EMA ) of 200 also confirms the bullish trend. The MACD Indicator made a golden cross, signifying a possible upside movement in the long run.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/Support area.
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"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the NASDAQ"
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Sign of Bullish Continuation. Breakout of Descending Broadening Wedge!
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Create another bullish continuation Pattern-Daily Timeframe
Trade closed: target reached
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Done Target 1, Will it hit the fan or continue its bullish bias?