Direction: LONG Forecast price:12400 Forecast pips: 100 Pattern: Channel Interval: 120 min
Direction: Short Forecast price:1670 Forecast pips: 50 Pattern: Channel Interval: 240 min
HEAD AND SHOULDERS PATTERN
Direction: Short Forecast price: 0.85294 Forecast pips: 50 Pattern: Support & Resistance Interval: 30 min
Potential short-term trigger is 7783.00
On a Daily time frame we still have a potential downtrend, If the price is sustained above 7695.90 indicating buyers power the overall trend might change targeting 7970.00. Bearish outlook; if the price action breaks below 7695.90 will get a continuation. Join my WhatsApp group before it goes private: chat.whatsapp.com
Potential reversal, Nasdaq is likely to turn around and begin a new trend. On a DAILY time frame, we have double-tops/Bottoms reversal pattern as the price have hit the resistance level two times. Disclaimer: The research and information contained, is for information/educational purposes only.
NAS100/NASDAQ approaching resistance, potential for a bounce!
Head-and-shoulders tops are reversal patterns that form as the price hits a resistance level (forming the first shoulder), then breaks through the first resistance level and hits a higher resistance level (forming the head), and then hits the first resistance level again (forming the second shoulder).
NAS100 approaching resistance, potential for a bounce!