NASDAQ has been rejected from 13800
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NASDAQ is being rejected by the strong upside resistance 13800. This is a downside channel resistance and a strong horizontal resistance. A break above 13800 again is required for the upside price action continuation.
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The weekly chart reveals a rejection of 61.8% Fibo retracement of the latest swing down. The weekly candle shadow and close below 13300Â is indicating a potential strong reversal lower inside the downside channel for a continuation lower to the 9000-9500 zone.
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