In this technical analysis, we will have a look at the NASDAQ index in the 1-hour timeframe.
If the price is approaching a support level, there’s a possibility of it breaking down. It’s essential to be cautious and monitor the price action closely.
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If the price fails to break the support level and instead rebounds, it could indicate a potential opportunity for a long position, with the next target being the next resistance level. Always exercise caution and consider risk management strategies when trading or investing.