Microanalysis of the NASDAQ 4H
In a follow up analysis of the recent favourite, the NASDAQ futures NQ1!, it appears that a possible higher low above 13K has been registered and it is now consolidating below 13,360 (yellow line). Any effort above has been met with swift downdrafts (red ellipse marking the upper tails). If this continues, a breakdown below 13K is expected, and currently is expected to 12,800 target.
Alternatively, a 4H close above the yellow line would signal a breakout of the consolidation zone, and affirmation of a higher low near 13K support.
Technically, 60/40 skewed towards the bears.
Is this the calm before the storm?
Asian into European opening hours would be interesting...
Alternatively, a 4H close above the yellow line would signal a breakout of the consolidation zone, and affirmation of a higher low near 13K support.
Technically, 60/40 skewed towards the bears.
Is this the calm before the storm?
Asian into European opening hours would be interesting...
Comment:
a couple days late... but NQ just broke down below 13K
