3 min readNASDAQ (NDX):
Following a strong week of optimism for the U.S. economy after Trump’s inauguration, the NASDAQ continues to gain momentum and trade higher, currently just below $22,000.
A closer analysis of the technicals reveals that the price perfectly rebalanced from the 50% level on the Fibonacci tool, which also aligned with an internal demand zone and the daily 50 EMA. Additionally, as shown below, once the price broke above the descending trend line, it gained momentum and continued to move higher.
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