$NXS, Lower Low Ahead…

Weekly
Looking at our trend timeframe we see price continuing to respect our downtrend, stochastic rsi showing momentum is heading towards the upside. Will be watching smaller timeframe for entry, lower high formed at 15000 expecting price to continue falling towards our 5000 support zone.


Daily
Shifting over to our pattern timeframe we see a double bottom has formed inside our support zone. Stochastic RSI showing momentum looking to form a higher low and continue towards the upside. A daily close above 13700 activates our trade.