NASDAQ MOVES IDEA: Nasdaq been bearish since tuesday unexpected inflation report the cause monthly CPI report 0.1/-0.1 whlie YoY CPI Report still better than previous report 8.3/8.1 previous=8.5 investors still price in 75 Bp rate hike next week at FED meeting nasdaq still laying out bullish picture with an aim of heading back to tuesdays high around 12810-12880,NASDAQ Wednesday currently respected weekly bullish fibs 0.618(12061.9).The level (12061.9) hasnt been broken (Past three weeks) hence price has shown rejection to the downside,while the months June-July gave us the double botton at current fibs level(12061.9) by close of august it gave us the head and shoulders so as we seat at this significant fibs level we expect a double top pattern to be completed on H4-push back to tuesday highs
NASDAQ Bullish until price heads back to Tuesdays high
Catch those buying opportunities!!!
NASDAQ Bullish until price heads back to Tuesdays high
Catch those buying opportunities!!!
Comment:
NASDAQ BEARISH NOW,after breaking fibs and trendline