NASDAQ Composite
, 4 hours
short
#Technical
#Bearish
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.
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