The market is near the upper bound of the yellow channel. We see that during the previous trading week, the price broke through this bound three times, but the bulls failed to get a foothold above it. If in the near future, after all, the resistance level of 7962 will be broken, and the price will gain a foothold above this level, the growth of the market may be continued to the upper bound of the green channel and the resistance level of 8479. However, if we see a rebound from the yellow wall, then we may expect a decline to the support level of 7610, which is on the lower green wall.Nasdaq on the Crossroads, Traders Making the Right Choice Can Benefit
The market is near the upper bound of the yellow channel. We see that during the previous trading week, the price broke through this bound three times, but the bulls failed to get a foothold above it. If in the near future, after all, the resistance level of 7962 will be broken, and the price will gain a foothold above this level, the growth of the market may be continued to the upper bound of the green channel and the resistance level of 8479. However, if we see a rebound from the yellow wall, then we may expect a decline to the support level of 7610, which is on the lower green wall.
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