1. There is a clear upward trend that has been valid since mid October. After last week’s close, it seems that the trend has been broken and we could see further potential movement to the downside. However, Nasdaq is on a clear support as represented by the yellow horizontal line. If Nasdaq breaks this support then it invites the bears to eat!!
2. There is a clear downward trend which has been valid since Nasdaq huge drop on 27January. If Nasdaq holds support and we see the break of this downward trend, that will give clear indication to traders that the market will be back on the upside and bulls will eat!!
3. Keep up with news to help understand the fundamentals that also play a role in these trades.
2. There is a clear downward trend which has been valid since Nasdaq huge drop on 27January. If Nasdaq holds support and we see the break of this downward trend, that will give clear indication to traders that the market will be back on the upside and bulls will eat!!
3. Keep up with news to help understand the fundamentals that also play a role in these trades.
Comment:
Please ensure you view the chart on a laptop/PC as I've noticed phones restrict full view of the chart.
