As we forecasted in our previous analysis, the Nasdaq Index looks like it has completed the pullback that we needed in order to confirm the long-expected downtrend. Last week, the price broke-out through the most important trendline that we had at this level, followed by a correction that stopped exactly at the resistance zone highlighted on the chart. Based on current inflation fears and the rise in the bond market we can foresee the price continuing to drop in the near future, having a big chance to hit our 12200.0 target. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move
good analysis but I think it may not touch the bottom line and swings back and continue to rally.
financialflagship
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@YoYoG, Thank you! 🙌 Let's see how it will play out, there is not much room left until the price will hit the target, but you never know. If the structure will change, our bias will do the same. There is a possibility to hit new highs again, but after this bearish move is completed.