Although on its 4 hour chart Nasdaq 100 index seems move in a ranging condition but with the appearance of:
1. The deviation between price movement with CCI indicator.
2. The appearance of Bearish 123 pattern.
3. Followed by the appearance of Ross Hook (RH).
Based on three things above then in a nearest term #NDX has a potential to try to go down to test the Bearish Ross Hook level at 11608.9 if this level is successfully broken then the next level to go to is 11410.1 but if on the way to these levels there is a sudden upward correction to pass the 12007.9 level then the scenario of a decline has been described earlier will cancel by itself.
Relevance up to 04:00 2022-12-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
