NASDAQ has been bullish since its reversal from the support level of H4 and daily. The support level at 12500 has been rejected and it started to move the market upwards towards the resistance, where the market is standing now. We anticipate a retracement from this level towards the price of 12600, where we will place our long positions.

The ascending trendline might be retested at the trendline and then continue moving up. On the other hand, we also see a descending trendline induce the breakout buys. Now, it only needs to be retested once again in order for it to continue moving bullish.

The retracement level is slightly higher than the support level, priced at 12612. This level needs to be retested and rejected to continue moving towards the 0% of retracement level, which is in confluence with the resistance.

EMA 50 is bullish as well. The retest might not be rejected at the EMA 50, in fact, can go further down towards the retracement level.

RSI is at 66. It needs to dwell into the neutarlized levels of 50 and align with the technical parameters.

Nasdaq in a bull run

Mar 30 2023