NASDAQ It is now or never for tech.

Nasdaq (NDX) has been trading within a Falling Wedge since its All Time Highs and contrary to the last analysis, it broke the 1W MA100 (red trend-line) and almost hit the bottom (Lower Lows trend-line) of the Falling Wedge.

As long as this holds, we can expect a rebound towards the Lower Highs trend-line (top) of the Wedge and more specifically the 0.618 Fibonacci retracement level, which formed the previous Lower High and is currently around 14300. Notice how potentially, it could meet with the 1D MA100 (green trend-line) there. The 1D RSI seems to be bouncing off the Pivot.

If on the other hand the Lower Lows trend-line breaks, the next Support level is the 12200 low of March 05 2021 but we doubt it will hold on panic selling and the hidden targets will be the -0.236 and -0.382 Fib extension at around 12115 and 11745 respectively.



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