Nasdaq -> -20% Massive Drop Ahead!
Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Nas100💪
Looking at the macro view on the monthly timframe you can see that at the moment the Nasdaq is retesting massive resistance of the 10+ years rising channel formation so I do expect a monthly push lower.
With the recent strong rally on the Nasdaq it is quite likely that we will see at least a retest of the 0.382 weekly fibonacci retracement level which is then maybe acting as a first strong support area.
My last analysis on the Nasdaq perfectly played out with the Nasdaq breaking below the daily bullish trendline and creating a double top in the process - therefore everything is currently looking quite bearish and I do expect more daily downside.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Nas100💪
Looking at the macro view on the monthly timframe you can see that at the moment the Nasdaq is retesting massive resistance of the 10+ years rising channel formation so I do expect a monthly push lower.
With the recent strong rally on the Nasdaq it is quite likely that we will see at least a retest of the 0.382 weekly fibonacci retracement level which is then maybe acting as a first strong support area.
My last analysis on the Nasdaq perfectly played out with the Nasdaq breaking below the daily bullish trendline and creating a double top in the process - therefore everything is currently looking quite bearish and I do expect more daily downside.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
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💰|Stocks, Cryptos, Indices, Metals
💶|Keep your long term vision
👇🏻|Free "Trading Newsletter"
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