Market Instrument: US100
Timeframe: Multiple
Analysis: Technical
Structure: Ascending Channel, Breakout, and Resistance
Prediction: Bearish
This bullish ascending channel is very strong since August 2020 it's a complete bull ride which remains stronger for more than 17months now.
Here I have spotted 5 impulses formed inside the upper and lower boundary of this ascending channel, Where recently a resistance formed on the top of the structure close to the upper boundary. This supply zone went on a quick (-7.4%) decline.
After the 5 the impulse seems to be bringing in a sell-off-market condition for NASDAQ after 17 months of the bull ride with more than 61% growth for the period.
If the above-highlighted resistance remains stronger and powerful against the bull market then we can see a price drop close or below the lower boundary of the picked-up structure.
During a bearish market condition if the NASDAQ shows a breakout on the bullish trend formed this can be a sign of a massive sell-off where the price can be plunged by 50-61% on this bullish wave formed.
If the market confirms a breakout on this ascending channel, we can see a price level close to 12800-13500.
Timeframe: Multiple
Analysis: Technical
Structure: Ascending Channel, Breakout, and Resistance
Prediction: Bearish
This bullish ascending channel is very strong since August 2020 it's a complete bull ride which remains stronger for more than 17months now.
Here I have spotted 5 impulses formed inside the upper and lower boundary of this ascending channel, Where recently a resistance formed on the top of the structure close to the upper boundary. This supply zone went on a quick (-7.4%) decline.
After the 5 the impulse seems to be bringing in a sell-off-market condition for NASDAQ after 17 months of the bull ride with more than 61% growth for the period.
If the above-highlighted resistance remains stronger and powerful against the bull market then we can see a price drop close or below the lower boundary of the picked-up structure.
During a bearish market condition if the NASDAQ shows a breakout on the bullish trend formed this can be a sign of a massive sell-off where the price can be plunged by 50-61% on this bullish wave formed.
If the market confirms a breakout on this ascending channel, we can see a price level close to 12800-13500.
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