NASDAQ Where is this technical relief rally get rejected? US Tech 100TRADENATION:USTECTradingShotNasdaq (NDX) has been trading within a Channel Down for a little more than a month and Friday may have seen it form its latest Lower Low bottom. The previous one had the shortest rebounds of this pattern, getting rejected early on its 4H MA50 (blue trend-line). Given that this Bearish Leg has been the shortest also (-3.92%), a rejection near the 4H MA50 is again very likely to take place, in which case expect the new Bearish Leg to target the 1D MA100 (red trend-line) before anything else at 27950. If however the price breaks above the 4H MA50, expect it potentially go for a 4H MA200 (orange trend-line) test on the 0.786 Channel Fibonacci level before reversing. That Bearish Leg should be stronger, aiming for at least a -5.40% decline, targeting 27800. On a side-note, check the 4H RSI being under Lower Highs since June 15, which is the technical reason that maintains the medium-term bearish trend. --- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** --- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇