NASDAQ MOVING INSIDE A GROWING CHANNEL & NOW ON RESISTANCE

27 Oca 2023

Nas100 is following a growing channel where we have seen some nice bullish impulses forming to the upside. The price has reached the resistance area and here we have seen a slowdown in the pace of bullish sentiment while lower timeframes are following neutral and bearish momentum right now. Here with the 5th impulse, we are expecting a bearish trend to form following the sell-zone or resistance which can revisit the lows at 11450. Any chance of a bullish breakout on the resistance will invalidate the setup.

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27 Oca 2023

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The short-term overview of the growing channel formed where shows the lower timeframe momentum is turning into negative market sentiment. Price is clearly respecting the resistance area formed with respect to the historical price moves.