3 min readNASDAQ (NDX):
As discussed in yesterday’s live stream, I’ve been closely tracking the price action of the NASDAQ, particularly the internal ascending trend line we’ve been trading near. At present, the price is back below the all-time high, around $20,667.00.
A closer examination of the technicals reveals that the price has reached the 50% Fibonacci tool level, indicating a potential rebalancing before attempting to move higher. The RSI indicator currently shows no signs of the pair being “overbought” or “oversold,” making it challenging to predict the next move. If the structure breaks below the recent low of $19,900.00, I will reassess the situation to determine the next direction for price action.
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