Short
Bearish triangle is forming
This is just my idea but bearish triangle is forming for Nasdaq, if you look at higher timeframes, you can see bulls are exhausted in trying to push it upwards. Also, massive rejection at the top in lower timeframes.
My guess is that, if bears are able to break through .38 fib support @ 11094 and .23 fib support 11077, this might be a knife downwards. Especially with the news of EU not doing well.
Also, there's a news about the stimulus bill. The lawmakers isn't so optimistic about it if no deal is reached this Friday.
My guess is that, if bears are able to break through .38 fib support @ 11094 and .23 fib support 11077, this might be a knife downwards. Especially with the news of EU not doing well.
Also, there's a news about the stimulus bill. The lawmakers isn't so optimistic about it if no deal is reached this Friday.
Note
Just an idea but .23 fib support has been been attacked multiple times. It's only a matter of time before it breaks. The same with 0 fib support at 11076.
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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.