Chart of the day

NVDA is testing the support 420. A bounce higher from here is opening an upside swing to the 469 breakout resistance again.

This is viewed as the completion of the medium-term fourth wave pullback of the five waves upside. A break below 410 is now required for a downside reversal and an invalidation of the immediate continuation in the reversal higher.

Long trade, you can open here with a stop loss just below 410. You can only open short trade entries in the case of a confirmed break below 410. We favor the long trade entries as we expect an upside extension from this strong support near the uptrend channel support line.

EURADUNVDA