Nasdaq Descending Triangle Pattern: Key Support & Resistance Levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The daily chart for USATECH.IDX/USD displays a classic Descending Triangle consolidated below a potential Head and Shoulders distribution top, signaling increased selling pressure along the descending trendline while price tests critical horizontal support around 28,929 – 28,500.





Pattern Structure: Lower highs formed since the early-June peak connect along a light blue descending resistance line, pressing price directly into the flat 28,500 support base.

Bearish Signal: A daily candle close below 28,500 confirms a downward breakout, targeting the mid-May swing low around 27,750.

Bullish Signal: Breaking out above the descending trendline and clearing 29,500 invalidates the triangle and re-opens a test toward 30,300.

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