Nasdaq -> What A Short Squeeze

٤ يونيو ٢٠٢٣

Hello Traders,
welcome to this free and educational multi-timeframe technical analysis.

On the weekly timeframe you can see that over the past couple of weeks, the Nasdaq had an insane rally towards the upside of roughly 25% and is now approaching weekly resistance.
Considering the fact that the overall trend is still very bullish I just do expect a short term rejection away from the $14.800 resistance area and then I definitely do expect the continuation of the bullrun.

On the daily timeframe you can see that market structure is still very bullish, there is still no sign of the Nasdaq slowing down yet, so there could be the possibility that we will see more continuation towards the upside to then retest the next major previous daily resistance at the $15.200 level before we will then see a short term drop.

Thank you for watching and I will see you tomorrow!

You can also check out my previous analysis of this asset: