NAS - Potential Reversal
NASDAQ has had a good bullish run, however the weekly and daily charts suggest slowing momentum. The completion of AB=CD harmonic pattern with the price entering the critical price reversal zone on the weekly and a huge bearish divergence on daily charts are indicators of a potential reversal.
We will have to keep a close eye on the daily chart and look for breakout below the previous Higher Low for a potential short trade setup.
We will have to keep a close eye on the daily chart and look for breakout below the previous Higher Low for a potential short trade setup.
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