Nasdaq has entered into bear phase - reasons and target
Updated
nasdaq index is making lower lows ,exactly reversed from 200ma and broken recent lows.
so this has confirmed that nasdaq100 has entered the bear phase.
price target on the downside comes around 11750 from the inverted V-shape pattern.
bearsish indications which has confirmed down side:-
1)falling head and shoulder:- Tgt=12200
2)inverted V-shape
tgt=11750
3)LL-LH
4) down by 22% from all time high
other reasons:-
1)increasing inflation
2)increasing interest rates
3)lower earnings
4)geopolitical tension
so this has confirmed that nasdaq100 has entered the bear phase.
price target on the downside comes around 11750 from the inverted V-shape pattern.
bearsish indications which has confirmed down side:-
1)falling head and shoulder:- Tgt=12200
2)inverted V-shape
tgt=11750
3)LL-LH
4) down by 22% from all time high
other reasons:-
1)increasing inflation
2)increasing interest rates
3)lower earnings
4)geopolitical tension
Trade closed: target reached
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