Is the Bearish Signal Confirmed for Nasdaq?

NASDAQ CHART PRICE – NASDAQ DAILY

I would say yes.

NASDAQ has been in an upward trend for a while, however, every time the price touches the upper band, it retraces back to the middle. Mostly, it has been moving within the Bollinger bands. Now, the price already touched the upper band, so I would say this time it could bounce back to the middle as before. 

RSI just goes through an overbought point, which to me is a bearish signal. Also, MACD is about to cross, which is a reversal signal. 

Let’s expect the price goes down to the middle line of the Bollinger bands in the near future. 

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.