NASDAQ Heavily bearish. Short the next bounce.

٢١ سبتمبر ٢٠٢٣

Nasdaq / US100 has turned bearish on the medium term after crossing under the 1day MA100.

The 4hour RSI is oversold so on the short term we can see a rebound, that will be ideal for a new short position.

So far it follows the structure of the prior selling sequence (July 19th-August 18th) and proportionally we are on the spot where the bounce happened on Fibonacci 2.0.

The closer to the 4hour MA50 it gets, the better. Sell and target 14430 (Fibonacci 2.786).

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