NDX100 Potential rejection of the 0.382. Further downside?
NASDAQ weekly analysis
Short IF
We have a rejection of the FIB 0.382 level on the weekly as previous weekly closes were bellow this area with bearish candles. Also this area coincides with the weekly MA50 also serving as resistance and a strong diagonal resistance.
ELSE Long IF
We break above this level and hold it as support, entry on the back test.
Short IF
We have a rejection of the FIB 0.382 level on the weekly as previous weekly closes were bellow this area with bearish candles. Also this area coincides with the weekly MA50 also serving as resistance and a strong diagonal resistance.
ELSE Long IF
We break above this level and hold it as support, entry on the back test.
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