From TradingView · · 50s
NASDAQ Technical Analysis
NASDAQ price expected to correct upward before trend reversal.
In brief
NASDAQ price expected to correct upward before trend reversal. NASDAQ price may rise to 29290 pivot level before resuming decline. Originally reported by TradingView.
Current NASDAQ Price Trend
The price of NASDAQ is currently expected to undergo a bullish correction toward the 29290 pivot level before resuming its downward trend.
Bearish Trend Conditions
As long as the price trades below this pivot point, the trend remains bearish toward the support targets at 28950 and subsequently 28770.
Bullish Trend Conditions
However, if the price manages to break above the 29290 pivot level and confirms a 1-hour candle close above it, a bullish trend will be initiated toward the resistance levels at 29450 and 29600.
Support Levels
Support Levels: 28950, 28770.
Resistance Levels
Resistance Levels: 29450, 29600.
The short version
NASDAQ price may rise to 29290 pivot level before resuming decline.
