The fresh rise in the US 10-year Treasury Yield has put Nasdaq futures under some pressure as it slid by 0.8% at the opening bell. From a technical perspective, we anticipate 2 scenarios: 1. The blue arrow scenario: the price will break the orange trendline and reach the resistance level highlighted on the chart. If the price gets rejected at the trendline, chances are that we could fall deeper into a deeper corrective phase. 2. Orange arrow scenario: We may fall once more towards the support zone before reaching our target. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move