NASDAQ: Double Bottom or Death Cross?

Nasdaq is holding the 11,900 Support and so far that is a Double Bottom, which is a bullish signal. However, we are only a few hours before the 4H MA50 crosses under the 4H MA200 and forms a Death Cross. As the 4H RSI is on a Channel Up and 1D technicals neutral (RSI = 44.490, MACD = 47.620, ADX = 28.820), we give slighlty more probabilities the the Double Bottom prevails.

However the 1D MA50 needs to hold, if crossed the trend changes to bearish. Short-term TP1 = 12,220 (under R1), medium-term TP2 = 12,450 (under Lower Highs Zone).



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