Nasdaq had a great run hitting our 15000 target after we called a buy on the exact bottom on Oct 26th (chart link in the end).
Now the price broke over the 4 month Channel Down, which on the greater scale turns out to be just a long Bull Flag, and is aiming at Resistance A and B.
In fact based on the fact that the current rally started when the 1day RSI bounced on the 33.30 Support and the 1day MACD formed a Bullish Cross on the exact same level as the January pattern, we expect the trend to follow a similar path with the 1day MA50 supporting from now on.
Buy again and target 16000 (Fibonacci 1.5 extension like the February 2nd top).
Previous chart:
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Now the price broke over the 4 month Channel Down, which on the greater scale turns out to be just a long Bull Flag, and is aiming at Resistance A and B.
In fact based on the fact that the current rally started when the 1day RSI bounced on the 33.30 Support and the 1day MACD formed a Bullish Cross on the exact same level as the January pattern, we expect the trend to follow a similar path with the 1day MA50 supporting from now on.
Buy again and target 16000 (Fibonacci 1.5 extension like the February 2nd top).
Previous chart:
Follow us, like the idea and leave a comment below!!
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