Support has turned into resistance
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The bottom of the green channel has been acting as solid support since April but has started to act as resistance since the beginning of this month. However, the 50 day moving average is still acting as support, thus sending mixed signals.
NASDAQ could move north if the bottom of the channel turns into support again. However, further downside is expected if the 50 d moving average support is breached. So keep an eye on the channel and the moving average.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
NASDAQ could move north if the bottom of the channel turns into support again. However, further downside is expected if the 50 d moving average support is breached. So keep an eye on the channel and the moving average.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Nota
The bottom of the channel again offered resistance yesterday.Nota
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.Nota
My opinion is still unchanged though it looks like that NASDAQ is very close to making a decision now. PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Nota
The same story: The bottom of the green channel again offered resistance and the 50 day moving average again offered support. The only change is that NASDAQ pierced through the support and thus weakened it.Nota
This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.Nota
Support eventually broken.Nota
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
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