Nasdaq index analysis based on Elliott waves in long term time frame
By breaking the upward trend line, the market has entered a strong upward wave, which is likely to be able to break down in 5 complete waves.
The range in which it is located is important and it can decide in this important range whether it will continue to climb or whether it will end the climbing process and enter a fall.
Therefore, the main range is 16440 and 17070
In this analysis, it is more likely that we have reached the end of the upward trend, so in case of failure, the market will fall towards the number 14777.
By breaking the upward trend line, the market has entered a strong upward wave, which is likely to be able to break down in 5 complete waves.
The range in which it is located is important and it can decide in this important range whether it will continue to climb or whether it will end the climbing process and enter a fall.
Therefore, the main range is 16440 and 17070
In this analysis, it is more likely that we have reached the end of the upward trend, so in case of failure, the market will fall towards the number 14777.
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