Nasdaq Weekly Report

After hitting the low point from which this new upward trend started again almost precisely (circle, possible target), the price has not stopped at all and has continued to rise inexorably, breaking all the intermediate levels we had set for ourselves. Everything seems to indicate that the trend will continue to be valid and thus bullish.

Weekly Chart

Daily Chart

This might suggest a possible larger correction than those seen in this last rise. The two possible levels for a correction are drawn on the chart. We consider, however, that these corrections would be executed to continue upward again in the long term.

With this chart, we can further appreciate how this rise was executed—that is, with almost no correction. Going all the way up to the last high that corresponds with the yearly high, from which point the price pushed back, the orange candle was supported by fairly high relative volume, although not with continuity to the downside.

Hourly Chart

In this chart, we observe better how the level of the previous high was clearly rejected, and from there, a sideways channel was formed in which prices are still now. We expect an opening that will obviously still contract within the lateral range. It will be very important then to see where prices will head and in which direction they will break the channel.

We think this may be done to the downside to precisely make a fact of the correction that we talked about earlier. In any case, before opening any operation, we will wait for due confirmation. Follow us on Discord to stay updated on this.