NASDAQ
NASDAQ, which was also unable to penetrate its 100 MA, has re-entered the support range of 11368 - 11470. The MA8 seems to be starting to slope down and will make a death cross with the MA20 and re-confirm its downtrend. Price corrections on the Daily timeframe have also been made, thereby increasing the probability that the NASDAQ will fall again.
Doing a SELL does not get a good RR.
R3 12441
R2 12211
R1 11675
PV 11470
S1 11368
S2 11300
S3 11091
NASDAQ, which was also unable to penetrate its 100 MA, has re-entered the support range of 11368 - 11470. The MA8 seems to be starting to slope down and will make a death cross with the MA20 and re-confirm its downtrend. Price corrections on the Daily timeframe have also been made, thereby increasing the probability that the NASDAQ will fall again.
Doing a SELL does not get a good RR.
R3 12441
R2 12211
R1 11675
PV 11470
S1 11368
S2 11300
S3 11091