Good day great traders it is once more with my greatest delight to be serving you insights on Nasdaq today
Now what's been happening with this market
Weekly our trend still has been bearish since 27 Dec 2021
Again, we have recently approached the 13000-price level which has a weekly support that has 4 touches holding support since 8 March 2021 so it is a strong support area
On the daily we got a close below this support level Tuesday however we did engulf back into this 13000-price support level
What does this mean? we are likely starting to range after or great impulse down
H4 h1 they do not seem promising to be taking trades on them because we recognize lack of momentum
What is the verdict? Wait for the market to break below the 13000-level close successfully there then we should catch further retracements on lower timeframes why are we to sell? the higher timeframe still is bearish and till we maybe push above the 13600-level creating higher lows and new higher lows then have the weekly close above the price too then trends should continue up but for now I will be selling be sure to comment positively till we meet again God bless
Now what's been happening with this market
Weekly our trend still has been bearish since 27 Dec 2021
Again, we have recently approached the 13000-price level which has a weekly support that has 4 touches holding support since 8 March 2021 so it is a strong support area
On the daily we got a close below this support level Tuesday however we did engulf back into this 13000-price support level
What does this mean? we are likely starting to range after or great impulse down
H4 h1 they do not seem promising to be taking trades on them because we recognize lack of momentum
What is the verdict? Wait for the market to break below the 13000-level close successfully there then we should catch further retracements on lower timeframes why are we to sell? the higher timeframe still is bearish and till we maybe push above the 13600-level creating higher lows and new higher lows then have the weekly close above the price too then trends should continue up but for now I will be selling be sure to comment positively till we meet again God bless