Nasdaq -> Bearish Then Bullish
Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Nas100 just recently perfecly broke above a major previous weekly resistance area at the
12,500 level which is now turned quite strong support.
You can also see that weekly market structure and moving averages are both bullish, indicating that we definitely have more upside potential long term so I am now just waiting for a deep retest of the previous resistance zone before I then do expect more weekly continuation towards the upside.
On the daily timeframe it seems like Nas100 actually formed a top formation over the past couple of days so I am now very interested in a short term short opportunity back to the weekly support at the12,500 area before I then also do expect a next daily rally towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
https://www.tradingview.com/chart/NAS100/abt7Sqya-Nasdaq-This-Is-The-Setup/
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Nas100 just recently perfecly broke above a major previous weekly resistance area at the
12,500 level which is now turned quite strong support.You can also see that weekly market structure and moving averages are both bullish, indicating that we definitely have more upside potential long term so I am now just waiting for a deep retest of the previous resistance zone before I then do expect more weekly continuation towards the upside.
On the daily timeframe it seems like Nas100 actually formed a top formation over the past couple of days so I am now very interested in a short term short opportunity back to the weekly support at the
12,500 area before I then also do expect a next daily rally towards the upside.Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
https://www.tradingview.com/chart/NAS100/abt7Sqya-Nasdaq-This-Is-The-Setup/
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