Nasdaq has started moving side ways where it is currently in consolidating phase.
There are two possibilities.
1. Flag Pattern
2. Double Top
Flag Pattern:
If it forms the flag pattern and breaks the upper side way trend line then market will turn bullish.
Double Top:
If it forms double top and travel towards the trend line which is prior to 2020 trendline (considering fed hike and money will be pulled out of market)
Note: Both the ways the current side way should break the side way support range.
This is only for educational purpose not a recommendation, please do consult your financial advisor.
There are two possibilities.
1. Flag Pattern
2. Double Top
Flag Pattern:
If it forms the flag pattern and breaks the upper side way trend line then market will turn bullish.
Double Top:
If it forms double top and travel towards the trend line which is prior to 2020 trendline (considering fed hike and money will be pulled out of market)
Note: Both the ways the current side way should break the side way support range.
This is only for educational purpose not a recommendation, please do consult your financial advisor.