NASDAQ Short term Resistance sell but buy if 15520 breaks.

١٠ أكتوبر ٢٠٢٣

Nasdaq / US100 is about to hit our second target (chart at the end) as it is approaching the Falling Resistance.

Our strategy was purely based on the identical patterns of July-August and September-October.

The index is close to a 4hour MA50-100 Bullish Cross, signalling the end of this uptrend.

We estimate a peak no more than 15350. If accompanied by a 4hour MACD Bearish Cross, sell and target 15050 on the short term (course of 4hour MA50).

If though the price crosses above Resistance A (15520), wait for a MA50 pull back and buy targeting 15930 (Resistance B).

Previous chart:

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