NASDAQ Trading Idea

Price reached the important resistance level 4900. We have 2 possible variants for trading in this zone. If price bounces from the resistance with RSI confirmation, we'll have to open short trades with profit target near the support level 4700. DMI confirms range market conditions and price reversal from the resistance level looks more realistic. If price breaks 4900 level, we'll have to search entry levels for opening long trades. MACD shows up movement and if ADX line starts rising, it will be good confirmation for possible breakout. If price breaks 4900 level, profit target will be near 5000 level.