Nasdaq

February 25, 2023
12:03 WIB

Nasdaq definitely on the Bearish move with creating Falling Wedge and Descending Support Resistance Lines. As seen on the chart at 78.6% F is where the market has new direction to move more low. Now, the chart is already at the MA200D in daily trading session or O point. While in the Weekly trading session there are Double Bottom has already created at the current situation. And, the chart has been move away from the support descending lines. So, this mean 11.900 point will have big support from the Bulls to developing Bulls run and exit from Descending Resistance Lines. I would love to open buy transactions at this spot. Considering daily trading session has been hit the Oversold structure pattern.

But there is some risk indeed. Because the chart still in Bearish Market. Where they can break down the 11.800 point, that would be disaster for the Bulls that hold frequently traded volumes. With another support point will be at 11.600. That is too far away down.

I need to stay focus on Nasdaq when the market open in Monday morning.