Here is my thought, we might be seeing a trend reversal on the nasdaq, to be confirmed on monday by :
- An opening much lower than friday's close creating a weekly gap,
- The definite crossing of the MA20 (which has been struck on friday),
- Crossing of 1H MA200 and 4H MA50,
- Crossing of daily RSI 50 value,
- Breaking the dotted pink support line.
Next supports are
- 9500$ (Fib .236 + daily MA50)
- 8900$ (Fib .382)
- 8500$ (Fib .5 + daily MA200).
8.500$ is my objective for now.
Stop loss : 10.150$
- An opening much lower than friday's close creating a weekly gap,
- The definite crossing of the MA20 (which has been struck on friday),
- Crossing of 1H MA200 and 4H MA50,
- Crossing of daily RSI 50 value,
- Breaking the dotted pink support line.
Next supports are
- 9500$ (Fib .236 + daily MA50)
- 8900$ (Fib .382)
- 8500$ (Fib .5 + daily MA200).
8.500$ is my objective for now.
Stop loss : 10.150$
Note
EDIT : - Crossing of 1H MA200 and 4H MA50,Disclaimer
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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.