NASDAQ: Critical breakout ahead that can send it to 22k

13 set

Nasdaq is almost overbought on the lower time-frames but just turned bullish on 1D (RSI = 55.402, MACD = -62.050, ADX = 25.952) and the main reason is that it closed over the 1D MA50 yesterday. This can't be considered a bullish signal on its own as the LH trendline is right over it and is being tested today. If broken, it is very likely to see the next bullish wave of the Channel Up. The previous two waves confirmed the uptrend after a candle closed over the LH.

If that happens, we will aim for a new Channel Up HH at the end of the year, almost at +31% from the bottom (TP = 22,000) like March's High.

See how our prior idea has worked out:

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