NQ has staged an impressive rally off the lows however as it currently stands there are a number of factors that make me believe this rally is due for a correction:
1) We are hitting the trendline resistance of the entire decline (purple trendline)
2) We have reached interim targets (or almost have I can argue for slightly higher to 13450) for this corrective move higher
3) We have a bearish throwover above the upper trendline of the wedge
4) We possibly have a very sneaky break lower below (and retest) of the lower wedge trendline
5) We have RSI in extremely overbought territory
Overall there is a good chance of a decline into support around 12450 - 12500. HOWEVER, if NQ continues higher then this is extremely bullish and could see it continue into 13500 - 14k before pulling back.
1) We are hitting the trendline resistance of the entire decline (purple trendline)
2) We have reached interim targets (or almost have I can argue for slightly higher to 13450) for this corrective move higher
3) We have a bearish throwover above the upper trendline of the wedge
4) We possibly have a very sneaky break lower below (and retest) of the lower wedge trendline
5) We have RSI in extremely overbought territory
Overall there is a good chance of a decline into support around 12450 - 12500. HOWEVER, if NQ continues higher then this is extremely bullish and could see it continue into 13500 - 14k before pulling back.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.