NASDAQ Will the 4H MA200 support the Channel Up?

Nasdaq (NDX) has been trading within a Channel Up since mid-May and today almost touched the pattern's bottom, making a Higher Low. At the same time, the 4H MA200 (orange trend-line) is right below it, the medium-term's natural Support.

Since the 4H RSI also bounced on the 32.20 Support, which is where the pattern bottomed on May 23, we expect the new Bullish Leg to start, as long as of course the 4H MA200 holds. The Target is the 1.382 Fibonacci extension at 22300.

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