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.
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.
