Hi Traders,
The Nasdaq Looks like it may give us an easy setup for a short. Price has started the day pushing all the way to 11720 and then proceeding to flip bearish. Price has also pushed below yesterday's daily low which leaves a clue for where we may see price go next.
We have support at 11480 and I would like to see price close below. This would then give me more confidence in a potential sell setup, My Target is the previous low of 11040 even though price may continue pushing for new lows. With the GDP numbers for the USA coming out this quarter and everyone suspecting that we may hit a Recession, The Nasdaq surely will take a hit and could aid in the price decreasing further.
Have a great week ahead.
Renaldo Philander.
The Nasdaq Looks like it may give us an easy setup for a short. Price has started the day pushing all the way to 11720 and then proceeding to flip bearish. Price has also pushed below yesterday's daily low which leaves a clue for where we may see price go next.
We have support at 11480 and I would like to see price close below. This would then give me more confidence in a potential sell setup, My Target is the previous low of 11040 even though price may continue pushing for new lows. With the GDP numbers for the USA coming out this quarter and everyone suspecting that we may hit a Recession, The Nasdaq surely will take a hit and could aid in the price decreasing further.
Have a great week ahead.
Renaldo Philander.