NASDAQ: Headed to 11,800

On a daily time frame Nasdaq is on the way of a likely breaking of the 0.2 Fibo long-term channel's support line since 2009. Afterwards comes a reversal support-resistance line at around 12250 and in case of breaking it the index could reach the 0.38 Fibo long-term channel's support at around 11,800. On a weekly time frame the previous historical high looks like the resistance of the channel since 2009.