NASDAQ May be entering a short term correction wave
Nasdaq / NDX / US100 is near the top of the 6 month Channel Up.
Since the middle of that pattern, it started to form a narrower Channel Up.
So far we have had 3 correction waves inside the larger Channel Up, each less aggressive than the previous.
The 1day RSI is forming a Rising Resistance pattern same with the previous in February 2nd that priced the peak of the Channel Up.
Sell if the RSI crosses under its MA line.
Buy a little over the 1day MA50. Target 15280 (Resistance A, High of March 29th 2022).
Previous chart:
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Since the middle of that pattern, it started to form a narrower Channel Up.
So far we have had 3 correction waves inside the larger Channel Up, each less aggressive than the previous.
The 1day RSI is forming a Rising Resistance pattern same with the previous in February 2nd that priced the peak of the Channel Up.
Sell if the RSI crosses under its MA line.
Buy a little over the 1day MA50. Target 15280 (Resistance A, High of March 29th 2022).
Previous chart:
Follow us, like the idea and leave a comment below!!
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