Trade Alert
It looks like Nasdaq is on the verge of breaking the short-term upwards moving trendline, drawn from the low of the 25th of April. If we see a close below that trendline on the daily chart, then we could start aiming for the 7105 mark, a break of which, could confirm the downside scenario.
We would then be targeting the 7000 zone.
If the index reverses back to the upside, for us to become bullish, we would need to see a break of the 7310 level, which could open the way towards the new all-time highs.
Be careful and have your SL in place.
It looks like Nasdaq is on the verge of breaking the short-term upwards moving trendline, drawn from the low of the 25th of April. If we see a close below that trendline on the daily chart, then we could start aiming for the 7105 mark, a break of which, could confirm the downside scenario.
We would then be targeting the 7000 zone.
If the index reverses back to the upside, for us to become bullish, we would need to see a break of the 7310 level, which could open the way towards the new all-time highs.
Be careful and have your SL in place.