NASDAQ upside continuation
NASDAQ is bouncing off the upside support 12500. A confirmed bounce off this support is required for an upside reversal. A rejection here and a break below 12500 could lead to a reversal lower and a bigger pullback. The overall medium-term is uptrend but we need to see a confirmation break above 13100 for an extension higher. As long as the NASDAQ is above 12500 there is a high probability that we will get to 14000.
Note – We are inclined to long trade entries with the stop loss below 12800.
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.