Amid the extremely negative geopolitical situation and growing inflation, the Nasdaq index breaks one support after another down. The last attempt to bounce from 13 900 was put down by the “bearish engulfing”, within the current downward movement, the bottom has not obviously been identified.
The RSI is moving towards oversold but there is still some space for the “bearish” maneuver. The nearest significant level is 12 900, the minimum of May of the past year. Then, the levels of 12 500 and 12 250 can be tested.
This content is for informational purposes only and is not intended to be investing advice.
