NASDAQ - Tracking Minor Waves - This Could Be A Top
Although we haven't seen a break of the rising trend-line or wave iv we need to use a couple of other indicators here.
We have divergence on the MACD indicating wave v price action.
Price bounced after the dip and encountered resistance on the upper channel.
The recent move down appears to be a Type-2 leading pattern.
We will need to see more evidence before any further assumptions can be made.
A break of the wave iv support around 12212 should provide confirmation that a top is in place.
I will provide another update as soon as we see a few more waves occur.
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We have divergence on the MACD indicating wave v price action.
Price bounced after the dip and encountered resistance on the upper channel.
The recent move down appears to be a Type-2 leading pattern.
We will need to see more evidence before any further assumptions can be made.
A break of the wave iv support around 12212 should provide confirmation that a top is in place.
I will provide another update as soon as we see a few more waves occur.
Please LIKE and FOLLOW to get notification of updates and future posts.
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