NASDAQ is showing signs of rejection at a support zone, indicating potential bullish movements are to follow, However, NASDAQ is also following along a resistive trendline, presenting a barrier for price to overcome before seeing some strong bullish movements.
Should price break above the resistive trendline, bulls can wait for a retest of the trendline before looking to go long, using proper risk management.
If price fails to break the resistive trendline, price may be breaking the support zone. This presents an opportunity for bears to short NASDAQ on a retest of the broken support zone.
It is advised that traders wait for the market to move and react to how the market moves.
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Best of luck traders!
Should price break above the resistive trendline, bulls can wait for a retest of the trendline before looking to go long, using proper risk management.
If price fails to break the resistive trendline, price may be breaking the support zone. This presents an opportunity for bears to short NASDAQ on a retest of the broken support zone.
It is advised that traders wait for the market to move and react to how the market moves.
Be sure to follow me for more ideas and analyses.
Best of luck traders!