(NASDAQ 1D) UPDATE! hanging on by a thread..
Nasdaq is in a very interesting spot, kinda forming a double bottom on a daily time frame around the 13860 level.
Usually when we see a double bottom pattern it signifies a trend reversal. We obviously need a very strong bounce and a bullish move to follow.
If we cross this line pointing downward that would be a good start but if we reject it back down to support.
KEY LEVELS:
SUPPORT - 13860
MORE SUPPORT - 12500
RESISTANCE AND ALL TIME HIGH - 16775
We*re looking at these three levels for the next month.
Happy Trading
Usually when we see a double bottom pattern it signifies a trend reversal. We obviously need a very strong bounce and a bullish move to follow.
If we cross this line pointing downward that would be a good start but if we reject it back down to support.
KEY LEVELS:
SUPPORT - 13860
MORE SUPPORT - 12500
RESISTANCE AND ALL TIME HIGH - 16775
We*re looking at these three levels for the next month.
Happy Trading
Next target 12,500