NASDAQ Channel Broken
I saw many chartists point out that this channel was a bullish channel but its resolution
was just more weakness. This broken channel suggests that the markets will move
downwards and resume the larger trend. We remain oversold in the monthly oscillator
readings, but they can remain oversold indefinitely. This area here looks like a good
place to add to shorts.
was just more weakness. This broken channel suggests that the markets will move
downwards and resume the larger trend. We remain oversold in the monthly oscillator
readings, but they can remain oversold indefinitely. This area here looks like a good
place to add to shorts.
Note
Bulls trying to bottom this. Will it work? Everything is oversold. This is not a time for new shorts. Cover or tighten up stops.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.