NASDAQ: Rejected on the 1D MA50. Can it break it?

Nasdaq is neutral on its 1D technical outlook (RSI = 52.608, MACD = -100.810, ADX = 23.609) as it got rejected today on the 1D MA50. That is the first serious Resistance test of the April 7th rebound and until it breaks, we can see a technical pullback to the 4H MA100 in order to establish the new Support. With the 1D RSI confirmed the new long term bottom with a DB, buying the dips on every such pullback is the most effective strategy on such occasions. Our short term target is the R1 level (TP = 20,300).

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