NASDAQ: Perfect pullback execution. Bullish reversal next week.

5月31日

Nasdaq delivered the expected pullback which was validated when it crossed under the 4H MA50. Today it almost reached the 1D MA50, which is also where the 4H MA200 sits, turned momentarily bearish on the 1D technical outlook (now neutral/ RSI = 47.140, MACD = 151.030, ADX = 59.182) and the 1D RSI achieved symmetry with the December 6th 2023 Low. We still expect the 1.5 Fibonacci extension to get reached before the next pullback (TP = 19,250).

See how our prior idea has worked out:

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