Purely Technical

On the close of last week Friday, nasdaq found support at 21,300-21,280… A closer examination of the 15-30min timeframe chart shows a *double bottom* chart pattern formation… Going into Monday, we’re looking of price to slightly pullback to the support zone at [21,412-21,400] for buy entry. Price will be retracing to [21,720-21,700] for profit taking[50 day moving average]. If price does consolidate at this lvl [21,720-21,700] sell positions can be entered for further continuation of the pending fall to [20,005-19,945]

50 day moving average [blue]
200 day moving average [red]