- On Daily timeframe, NAS is making a retracement within Bullish trend. The key levels to watch are 17430 (0.236 Fib) and 16785 (0.382). When we observe this Bullish trend that started in NOV 2023, every retracement is around the 0.236 Fib level so this it is highly likely that if retracement is to be made, it is made from this level.
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- On 4hr timeframe, the price was sideways moving in an Horizontal channel and yesterday (APR 15), it breaks out the channel bottom with a strong momentum. The channel lasted about 45 days.
Let's see how it goes.
Follow your Strategy and Risk Management plan, All the best!
~ Usama