NASDAQ Continues downtrend?
Good Day great traders
Hope you all recharged locked and loaded ready to work on this wonderful market once more it is our greatest delights to be able to serve you insights on Nasdaq today oh ooh here we go...
Nasdaq grocery list is as follows:
Weekly we closed below the 14000 price level signaling that bearish trend will continue despite a bit of strong bullish movement last week
Support has been broken on the weekly so applies to the daily candlestick broke the 14000 support which should see it act as future resistance
H4 we broke the 3 touch purple trendline and successfully created a new low for our hourly timeframes
Secondly the momentum to the upside isn't strong as seen in the last 3 candlesticks and we are currently respect the support level that has turned to resistance why? the market close below it and now is testing the area which acts as resistance
Verdict is should we successfully break our new formed (Green colour with 2 touches so far)trendline close below it strongly and get further confirmations (reversal candlesticks signaling downside movement) on lower timeframes We will consider sells till we meet again God bless You great traders feel free to positively comment your predictions below Cheers!!!
Hope you all recharged locked and loaded ready to work on this wonderful market once more it is our greatest delights to be able to serve you insights on Nasdaq today oh ooh here we go...
Nasdaq grocery list is as follows:
Weekly we closed below the 14000 price level signaling that bearish trend will continue despite a bit of strong bullish movement last week
Support has been broken on the weekly so applies to the daily candlestick broke the 14000 support which should see it act as future resistance
H4 we broke the 3 touch purple trendline and successfully created a new low for our hourly timeframes
Secondly the momentum to the upside isn't strong as seen in the last 3 candlesticks and we are currently respect the support level that has turned to resistance why? the market close below it and now is testing the area which acts as resistance
Verdict is should we successfully break our new formed (Green colour with 2 touches so far)trendline close below it strongly and get further confirmations (reversal candlesticks signaling downside movement) on lower timeframes We will consider sells till we meet again God bless You great traders feel free to positively comment your predictions below Cheers!!!
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