Outlook on NAS

Mar 22

Price reached ATH at $18500 and is currently retesting the previous support level at $18420 - 18400 on the Daily timeframe. On the 4H we can see a large bearish engulfing candle which could indicate a possible trend reversal. A candle closure below the Daily support of $18350-18320 will be confirmation of a bearish market. The next available support can be found at $18270 - $18250.