Since March 2020, the US100 index has shown a robust market structure. However, there's now the emergence of a rising wedge pattern under the daily timeframe, indicating a potential short to mid-term bearish trend. If a breakout occurs below the lower boundary of this rising wedge pattern, there's a possibility of a retracement or revisiting of the previous...
DESCRIPTION: In the chart above I have provided a MACRO analysis of NDQ that is in fact showing strong signs of PENDING CAPITULATION but I will leave the rest to INDIVIDUAL INTERPRETATION.
POINTS:
1. DEVIATION OF 1,000 POINTS is where NDQ usually finds appropriate CONSOLIDATION to then draw out SUPPLY & DEMAND POCKETS.
2. RSI is DANGEROUSLY OVER EXTENDED and...
The US 100 Index is looking to be buying the low price in order to go up to reach either 11943.00 or 12164.96.
This is what I see when n the H1 timeframe.
