Fellas, lets talk about NAS Forecast and try to see what can we expect in the coming two months, JUN and JUL 2024.
Overall, if we combine the above three findings, we conclude that NAS may go sideways in JUN as it went Sideways in MAR-APR this year, but the Bullish trend must continue. The likelihood of NAS going sideways in JUN higher than it going Bearish (falling below 17000).
Let's see how it goes, and Plan your trades accordingly.
- The Bullish trend that started from JAN 2023 continues and NAS makes an All Time High at a level of 18951.
- As per Chart patterns, we notice a very solid ABCD pattern for which the D point projection is at the level of 19300.
- As per Time Cycles, the bullish rally continued last time for 86 bars on 1w timeframe (602 days) and this time, so the trend should last for a similar time. This tells us that the current Bullish trend should continue till JUL 2024.
- If we talk about Seasonal behavior of NAS, the Index is bullish 5/10 times in JUN, 9/10 times in JUL and 5/10 times in AUG.
Overall, if we combine the above three findings, we conclude that NAS may go sideways in JUN as it went Sideways in MAR-APR this year, but the Bullish trend must continue. The likelihood of NAS going sideways in JUN higher than it going Bearish (falling below 17000).
- Its currently at ~18668 and the next major Support levels to watch are 18389, 17858 and 16985
Let's see how it goes, and Plan your trades accordingly.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.