Dead cat bounce?
Since the last analysis my idea has not changed, as mentioned there was the possibility of seeing the green up to the maximum threshold of 33k and so it was, stopping for now at about 32.5k, but from the global situation it is probably nothing more than a physiological rebound.
I say this because before we see a reversal signal we need to strongly break the 32k resistance on the weekly chart with at least one more candle like yesterday's, taking us at least to the 36k area.
the inversion threshold starts from 36k and is the real trading area to be broken through both on 4h and on the daily, you see it marked with a red line.
Notice how this resistance also perfectly crosses the new trend line.
Now as said last time we have the 30 MA (green) as resistance and it is no small thing if we break it to be bullish we can only hope to use it as support, then lateralize, gain strength and create new bullish flags, but it will be difficult to see and in fact remains a second hypothesis.
If there is no news that gives a change to the Nasdaq as well, I think the best hypothesis is a new drop below 30k, hoping to resist, otherwise we will reconfirm my idea of 25k.
What do you think?
I say this because before we see a reversal signal we need to strongly break the 32k resistance on the weekly chart with at least one more candle like yesterday's, taking us at least to the 36k area.
the inversion threshold starts from 36k and is the real trading area to be broken through both on 4h and on the daily, you see it marked with a red line.
Notice how this resistance also perfectly crosses the new trend line.
Now as said last time we have the 30 MA (green) as resistance and it is no small thing if we break it to be bullish we can only hope to use it as support, then lateralize, gain strength and create new bullish flags, but it will be difficult to see and in fact remains a second hypothesis.
If there is no news that gives a change to the Nasdaq as well, I think the best hypothesis is a new drop below 30k, hoping to resist, otherwise we will reconfirm my idea of 25k.
What do you think?
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