Is NASDAQ open for a reversal?
Â
NASDAQ is testing the strong long-term rising wedge resistance 16400 and could be rejected for a reversal. A clear confirmed break above the 16670 would definitely call for more upside and a parabolic upside continuation. 16670 is also 161.8% Fibonacci extension from 2009 bottom.
Â
The weekly chart is showing a clear rising wedge resistance 16380 where reversal can kick in as the market got rejected three times from this steep resistance in 2020 and 2021.
Â
LIVE ONE ON ONE TRAINING TO TEACH YOU PERFECT ENTRY AND EXIT TIMING IN CRYPTOCURRENCIES
On a daily chart, we can see that the Already a member? This article is so good, it’s for premium members only.
Does that sound like you?
Go Premium to read full trading strategy with parameters of entry, stop loss, and exit. Why Premium?
We have used the combination of the top-down trading analysis to get these key levels explained in the charts. Also, you have the chance to see Elliott Wave and price action analysis together in action along with the Andrews Pitchfork channel tool. If you want to learn the trading strategy that will give you immediate results in your trading register for Live Training Mentoring.
