Nasdaq is testing the MA50 (4h) since yesterday as the Rising Resistance weighs.
The middle line (dashed) of the Channel Up is the final level of Support before a short term pull back.
The Bearish Divergence on the RSI (4h), which is inside a Channel Down, is in favor of this short term pull back.
Trading Plan:
1. Sell if the price crosses under the dashed middle of the Channel Up.
Targets:
1. 15450 (Rising Support).
Tips:
1. The MACD (4h) is also descending while the index rises (another Bearish Divergence) and is about to form a Bearish Cross. Additional sell signal.
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The middle line (dashed) of the Channel Up is the final level of Support before a short term pull back.
The Bearish Divergence on the RSI (4h), which is inside a Channel Down, is in favor of this short term pull back.
Trading Plan:
1. Sell if the price crosses under the dashed middle of the Channel Up.
Targets:
1. 15450 (Rising Support).
Tips:
1. The MACD (4h) is also descending while the index rises (another Bearish Divergence) and is about to form a Bearish Cross. Additional sell signal.
Please like, follow and comment!!
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