Nasdaq is ranging between 22000 and 20500, and price action is currently bouncing off the 20500 support. As long as price action is above the 20500 barrier, price action may try to reignite a bullish rise towards the established highs.
Failure to continue up and settling under 20500, the indice may now be in a bigger bearish phase. However, if the price action manages to stabilise above the 21300, the indice will probably aim the 22000 barrier.
Failure to continue up and settling under 20500, the indice may now be in a bigger bearish phase. However, if the price action manages to stabilise above the 21300, the indice will probably aim the 22000 barrier.
Trade closed manually
Target reached Note
If price action remains under 20500, the bearish idea is still on. 
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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.