NASDAQ Final pull back pending unless the 1day MA50 breaks.
Nasdaq / US100 hit the top of the long term Channel Up and Resistance A (March 2022 top) and got rejected.
Based on the previous Higher Highs, the rejection should form a Channel Down / Bear Flag.
According to that, there is one final pull back pending to 14730. Buy it and target 15500.
If anyhow the price crosses under the 1day MA50 or closes the 1day candle under the 0.786 Fibonacci level, sell and aim at the 1day MA100 that is unchallenged since March 13th.
There return to buying, which is also the bottom of the long term Channel Up, and target 15500.
The RSI's Rising Support can be used as a great additional indication of a buy (hold) or sell (break) inside this long term Channel Up.
Previous chart:
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Based on the previous Higher Highs, the rejection should form a Channel Down / Bear Flag.
According to that, there is one final pull back pending to 14730. Buy it and target 15500.
If anyhow the price crosses under the 1day MA50 or closes the 1day candle under the 0.786 Fibonacci level, sell and aim at the 1day MA100 that is unchallenged since March 13th.
There return to buying, which is also the bottom of the long term Channel Up, and target 15500.
The RSI's Rising Support can be used as a great additional indication of a buy (hold) or sell (break) inside this long term Channel Up.
Previous chart:
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