3 min readNASDAQ (NDX):
As noted in previous articles, I was eager to observe how the NASDAQ would continue to trade from these internal ascending trend line and former resistance areas, which are now acting as support.
A closer look at the technicals clearly shows how previous resistance areas are now serving as support, as illustrated below. This aligns perfectly with the 50% Fibonacci level, suggesting that the price has rebalanced and is now poised to move higher, as we are currently observing. The RSI indicator does not show any concerning signs of the current move being “overbought.” If support holds and the price continues to rise, it is likely that the next target will be the newly formed all-time high (ATH).
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
