Nasdaq (NDX) just got rejected on the Lower Highs trend-line that started after its October 30 All Time High (ATH). With the 4H RSI also rejected on its own Lower Highs trend-line and the 4H MACD forming a Bearish Cross already, we expect this to be the start of a new Bearish Leg, similar to the previous two that followed such Lower Highs rejections.
As a result, the most likely scenario as long as this trend-line remains intact, is for the index to approach the 1D MA100 (red trend-line) again. We expect it to hit at least 24800.
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As a result, the most likely scenario as long as this trend-line remains intact, is for the index to approach the 1D MA100 (red trend-line) again. We expect it to hit at least 24800.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.