Hey, traders. Hope you guys had great weekend.
Because of Fed's monetary policy, Nasdaq had fallen for 6 days.
Let's check what happened to the chart.
We can see
1. Long-term ascending channel is about to be broken by downside.
2. 3 lines overlapped on 12350
3. the price had entered into the descending channel again
We can expect
1. downward movement by breaking though 11800.00 to 11000.00 (short)
2. upward movement by passing 12400.00 to 13750.00 (long)
3. after support on 11000, we can have chance to buy for short.
4. after resistance on 13750.00, we can have chance to sell for short.
Thanks for reading, and hope this insight is helpful. Let's see how it works.
Because of Fed's monetary policy, Nasdaq had fallen for 6 days.
Let's check what happened to the chart.
We can see
1. Long-term ascending channel is about to be broken by downside.
2. 3 lines overlapped on 12350
3. the price had entered into the descending channel again
We can expect
1. downward movement by breaking though 11800.00 to 11000.00 (short)
2. upward movement by passing 12400.00 to 13750.00 (long)
3. after support on 11000, we can have chance to buy for short.
4. after resistance on 13750.00, we can have chance to sell for short.
Thanks for reading, and hope this insight is helpful. Let's see how it works.
