NASDAQ 15-Minute Chart
The bleu highlighted area at the top indicates a supply zone where the price has repeatedly failed to break higher.
This suggests strong selling pressure at this level.
The recent price action shows a potential bearish trend.
Given the repeated failure to break above the supply zone and the projected downward movement, market sentiment appears bearish for NASDAQ in the short term.
Consider entering a short position around the current price level or upon confirmation of a downward move from the resistance zone.
Targets would be the support levels at 19698.53.
Ensure proper risk management by sizing the position appropriately and setting stop losses.
This suggests strong selling pressure at this level.
The recent price action shows a potential bearish trend.
Given the repeated failure to break above the supply zone and the projected downward movement, market sentiment appears bearish for NASDAQ in the short term.
Consider entering a short position around the current price level or upon confirmation of a downward move from the resistance zone.
Targets would be the support levels at 19698.53.
Ensure proper risk management by sizing the position appropriately and setting stop losses.
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