NASDAQ: 12060 - 12160 OR 11600 - 11300 Where Next..?
Strong Rally in NASDAQ is approaching caution and Supply zone which may be vulnerable point in the event of any profit booking near highs.
We may see a Breakout above descending Trendline which takes the tech index to reach 11960 - 12060 & 12160 amidst extended volatility.
As Stochastics on 4 Hour Time Frame is reaching Overbought Zone, We may see prices failing the Break out and selling pressure may trigger
a sell off pushing prices down towards 11820 - 11720 followed by 11650
If Selling intensifies, Nasdaq can drop below 11590 and test 11450 which is an important support before next leg deeper 11268 and 11060
We may see a Breakout above descending Trendline which takes the tech index to reach 11960 - 12060 & 12160 amidst extended volatility.
As Stochastics on 4 Hour Time Frame is reaching Overbought Zone, We may see prices failing the Break out and selling pressure may trigger
a sell off pushing prices down towards 11820 - 11720 followed by 11650
If Selling intensifies, Nasdaq can drop below 11590 and test 11450 which is an important support before next leg deeper 11268 and 11060