NDX: Our Expectation: Long move continuous, possible long after test of horizontal support at 5,565/70. SL: 5,630. Fibo level of 23.6% on D1 also held the price. Break of diagonal resistance and test will increase the chance of long move and validate it.
Alternative scenario: If the price moves down and passes below 5,630 will cancel the bullish view, and we might have to change our position to short instead.
Comment: Long-term trend is long and possible change to medium and short term tendency to long as well, after 3rd higher low.
Price action: Engulfing bar after price tested and held above the horizontal support - Positive siglna for long.
DEM - In the overbought zone
50 ЕМА held the price as dynamic support
Trader - S. Fuchedzhiev
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