NASDAQ is about to break into long-term bullish territory again.

Basically this is a quick update to my January 31 analysis on NDX where I made a case for the importance of this Channel Down:

Initially the price got rejected near the top (Lower Highs) trend-line of the Channel Down but since yesterday, it is staging a comeback. As mentioned before, a break above it, will most likely restore the long-term bullish trend on Nasdaq and will aim for new All Time Highs (potentially near the 1.5 Fibonacci extension long-term).

The finding of the current idea though, is that the current Channel Down resembles that of the previous correction during September 06 - October 13 2021. For a better illustration, see that Channel below on the 12H time-frame, where th MA50 and the MA200 trend-lines are similar to those of the current Channel Down on the 1D time-frame:



Breaking above the 1D MA50 this time, most likely confirms the above.



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