NDX - Rising Trend Channel [MID TERM]

30 Apr 2023

- NDX is in a rising trend channel in the medium long term.
- The index has given a positive signal from the double bottom formation by a break up through the resistance at 12042.
- Further rise to 13396 or more is signaled.
- The index is between support at points 13000 and resistance at points 13700.
- A definitive break through of one of these levels predicts the new direction.
- RSI diverges negatively against the price, which indicates danger of a reaction downwards.
- Overall assessed as technically positive for the medium long term.

*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price

*Chart Pattern:
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN

Verify it first and believe later.

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