NASDAQ Bearish Scenario Can Unfold

19 Oca 2022

Here we have the NASDAQ (NQ1!) chart showing some bearish potential.

Last week prices closed below EMA10 and EMA21, when this happened in the past we had a strong correction.

We have the MACD trending down after a bearish cross.

We also have bearish Divergence with the MACD since August 2020:

The RSI is also trending lower as has broken below 50 weekly.

We have bearish divergence since Jan. 2020:

We see lower highs on the indicators (RSI and MACD) while we are getting higher highs on the NQ1!.

We have two main targets mapped on the chart.

Conditions for change
This analysis is invalidated if there is a weekly close above EMA10 or 15769.5 on the NQ1!.

Thank you for reading.

Namaste.

24 Şub 2022

İşlem aktif

First target hit.
More to come. We continue RED.

7 Kas 2022

İşlem kapandı: hedefe ulaştı

Both targets hit.