NDQ is now retesting a very important inflection level and maybe attempting a breakout.Parabolic rise or -20% correction over the next couple of months. So far there is a lot of uncertainty as to whether the Nasdaq will manage to break above the current resistance trendline. We simply have to wait for this monthly candle closure as well as the monthly candle closure of July until we can make a clear prediction. So far, everything is still possible!
Levels to watch: $20.000, $16.000
Keep your long term vision,
Philip - BasicTrading
Note
Quick update on the Nasdaq:Patterns repeat again and again. Even though it feels counterintuitive to anticipate another +50% rally on the Nasdaq, this might be exactly the reason for a +50% rally. Just look at what happened in August and September of 2020...
Levels to watch: $20.000
Note
Quick update on the Nasdaq:After CPI coming out today and leading to a massive (tech) stock selloff, we could see a fundamental shift on the Nasdaq. If we break below the trendline this month, we might have a valid false breakout which is extremely bearish...
Levels to watch: $20.000
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#LONGTERMVISION
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.