This index made a big rally the past week or two, while the rally was much weaker the first 5 weeks of this year compared to other indices. With this rally of the past 2 weeks, it looks like it is slowing down in the form of a bearish wedge. Seems a break has already happened so normally the high should be set already. The target of the wedge is around the yellow circle, but there is a chance it will drop even more. It is still above a support zone though, but i think if that one breaks, we should see a small acceleration
Similar Nasdaq analysis:
Similar Nasdaq analysis:
Note
The green support never broke and made another bounce up because of some news, now its dropping towards that neckline again. If that breaks, we should some acceleration downwards.
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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.