NASDAQ has been in a bullish trend after tapping the strong support at 15000. The continuation of the upwards move might take it to 15250. This level is a solid resistance where we will be booking our profits. The trend is bullish right now on H4 with the formation of higher highs and higher lows. That being said, market needs to tap another wave upwards.

The ascending trendline has been tapped and is being rejected at the confluence of the support. 

There is no retracement in confluence with the support level.

EMA 50 is bullish but there has not been the retest of it. Maybe the market will buff up without the touch of it.

RSI is at 52. It needs to neutralize at the level of 50 in order to align with the technical factors to continue upwards.

NASDAQ 200 points bull move

Aug 28 2023