Nasdaq hit the MA50 (4h) today and crossed over the short term Channel Down as well, but the candle closed back inside the Channel and under the MA50.
This is a sell indication and unless it closes above it, we expect a test of the MA200 (4h) given the fact that the MA100 is already broken.
Trading Plan:
1. Sell on the current market price or at Resistance (1).
2. Buy on the MA200 (4h).
Targets:
1. 14550 and 14600 respectively (hit on the MA200 4h).
2. 15285 (Resistance 2 and Highs of March 29th 2022 and more recently June 16th 2023).
Tips:
1. The RSI (4h) is on a Rising Support, indicating a Bullish Divergence in contrast to the price's Channel Down. Attention is needed as this may indicate a bullish reversal for the index, so careful with shorting above Resistance 1.
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Notes:
Past trading plan:
This is a sell indication and unless it closes above it, we expect a test of the MA200 (4h) given the fact that the MA100 is already broken.
Trading Plan:
1. Sell on the current market price or at Resistance (1).
2. Buy on the MA200 (4h).
Targets:
1. 14550 and 14600 respectively (hit on the MA200 4h).
2. 15285 (Resistance 2 and Highs of March 29th 2022 and more recently June 16th 2023).
Tips:
1. The RSI (4h) is on a Rising Support, indicating a Bullish Divergence in contrast to the price's Channel Down. Attention is needed as this may indicate a bullish reversal for the index, so careful with shorting above Resistance 1.
Please like, follow and comment!!
Notes:
Past trading plan:
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