Nasdaq -> New All Time Highs Before 2024
Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Nas100💪
After the Nasdaq perfectly retested the monthly 0.618 fibonacci retracement, previous monthly support and also broke above a clear bearish trendline, we had a solid rally of roughly 20%.
With the Nasdaq now retesting the next weekly resistance at the $15570 level I do expect a short term rejection again away from the resistance and considering the overextended weekly timeframe, this scenario becomes even more likely.
The daily timeframe however is still super bullish - the Nasdaq just broke out of an ascending triangle formation so I will definitely need some shift back to a bearish market before I then do expect a short term daily drop.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Nas100💪
After the Nasdaq perfectly retested the monthly 0.618 fibonacci retracement, previous monthly support and also broke above a clear bearish trendline, we had a solid rally of roughly 20%.
With the Nasdaq now retesting the next weekly resistance at the $15570 level I do expect a short term rejection again away from the resistance and considering the overextended weekly timeframe, this scenario becomes even more likely.
The daily timeframe however is still super bullish - the Nasdaq just broke out of an ascending triangle formation so I will definitely need some shift back to a bearish market before I then do expect a short term daily drop.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
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💰|Stocks, Cryptos, Indices, Metals
💶|Keep your long term vision
👇🏻|Free "Trading Newsletter"
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