Nasdaq has started moving side ways
Nasdaq has started moving side ways where it is currently in consolidating phase.
There are two possibilities.
1. Flag Pattern
2. Double Top
Flag Pattern:
If it forms the flag pattern and breaks the upper side way trend line then market will turn bullish .
Double Top:
If it forms double top and travel towards the trend line which is prior to 2020 trendline (considering fed hike and money will be pulled out of market)
Note: Both the ways the current side way should break the side way support range.
This is only for educational purpose not a recommendation, please do consult your financial advisor.
There are two possibilities.
1. Flag Pattern
2. Double Top
Flag Pattern:
If it forms the flag pattern and breaks the upper side way trend line then market will turn bullish .
Double Top:
If it forms double top and travel towards the trend line which is prior to 2020 trendline (considering fed hike and money will be pulled out of market)
Note: Both the ways the current side way should break the side way support range.
This is only for educational purpose not a recommendation, please do consult your financial advisor.
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