NASDAQ

By Mariya Markova

NASDAQ Composite

, 4 hours

short

#Technical

#Bearish

Range

Resistance 1 16232.33
Quote Price 15885.02
Support 1 15453.35
Support 2 15162.88

On the 4 hour chart, we can see that the price broke out of the 3-week long range and triggered more bearish momentum as the sellers piled in more aggressively to target a break below the 15929 support. After the breakout of the rising wedge, the market started to rollover from the highs and the chances of seeing a correction all the way down to the base of the pattern at 14477 increase by the day.