3 min readNASDAQ (NDX):
Nasdaq continues to fluctuate around this resistance zone, which price action previously broke above and is now holding as support. Additionally, we appear to be retesting the former ascending trend line that was recently breached.
A closer look at the technicals reveals that price is rebalancing and respecting this lower demand area, as noted in previous articles. Following Monday’s sharp selloff, I’ll be watching closely to see how price action holds up ahead of the upcoming FOMC meeting.
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