NASDAQ: Consolidating. Breakout and pullback levels to consider

Nasdaq is consolidating around the 4H MA50 for the past 2 weeks with 1D technicals turning neutral (RSI = 54.883, MACD = 132.650, ADX = 34.947) for the first time in 1 month. The LH trendline on the 4H RSI hints to comparisons with the February consolidation. That pattern broke under the 4H MA200 to the 0.5 Fibonacci level and then rebounded.

Consequently, we are either buying a potential breakout over the consolidation Channel or a pullback near the 0.5 Fibonacci. In either occasion we target the R1 (TP = 13,750).



Prior idea:

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