NAS has been ranging around a major demand zone. There's confluence with a previous resistance trendline which the market broke and is now retesting to serve as support for the bullish move...
The pair has just rejected on a major supply zone and therefore this serves as a confirmation for a bearish rally to just below R18 per dollar. I see this bearish move gaining a bit of momentum over time especially since South Africa is heading to it's ruling party's national elective conference in December. The outcomes of this conference will be very interesting...
The price just broke a significant downward trend, and we are now looking for price to come and retest previous rejection the proceed to move upwards. There is also confluence with market structure rejection turning into support..
Trade carefully with proper risk management though as trading is a risky business.
Kind Regards
NASDAQ has just broken a major resistance level an is now bullish. i believe that nasdaq will be bullish for sometime until it reaches the next major supply level around my tp
