NASDAQ At the Bottom or 1WMA waiting?
he Nasdaq (NDX) index is very close to the Lower Lows trend-line of the Channel that started the correction in Dec. Technically, as long as the Lower Lows line holds, we may see either a +10% rebound or a 0.618 Fibonacci retracement level rebound and That basically gives us two Midterm targets 13400 and 14000 depending on your risk Management.
However, a 1D candle close below the Lower Lows, can be enough to extend this long-term selling towards the 1W MA200 . The last time this trend-line got hit was on Mar 23 2020 , which made the bottom of the COVID market crash.
However, a 1D candle close below the Lower Lows, can be enough to extend this long-term selling towards the 1W MA200 . The last time this trend-line got hit was on Mar 23 2020 , which made the bottom of the COVID market crash.
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