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NASDAQ bouncing on the 1day MA200 eyeing a 4hour MA50 break
Nasdaq continue to trade within a Channel Down pattern but as it hit the 1day MA200 with the RSI is on a Rising Support/ bullish divergence on the Channel's Falling Support, it only needs to cross above the 4hour MA50 to resume the bullish trend.
We consider this the bottom. Target 1 is the 0.236 Fibonacci and Target 2 the 12750 Resistance A.
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We consider this the bottom. Target 1 is the 0.236 Fibonacci and Target 2 the 12750 Resistance A.
Follow us, like the idea and leave a comment below!!
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