NASDAQ
The Nasdaq Index is trading above the support area of $21,300, and prices are likely to move sideways between the aforementioned support area and the resistance area at $22,125 during today’s trading.
|
Support |
21300 | 20750 | 20150 |
| Resistance | 22125 | 22500 |
– |
The Nasdaq Index recorded a significant rise following a strong upward trend throughout the week, reflecting a recovery in investor sentiment after earlier declines in April caused by trade tensions. Today’s focus was on the rebound in technology stocks, supported by positive data on U.S. consumer sentiment, with the Michigan Index climbing to 60.5, despite ongoing geopolitical tensions and the impact of rising oil prices.
These factors suggest a balance between the tech core and broader economic dynamics, reinforcing the technical outlook that points to the formation of strong bottoms driven by supportive liquidity. As markets move toward a daily reassessment of psychological risk impact, upcoming trading sessions will be crucial in determining whether this rally will hold steady or face a temporary profit-taking phase before breaking into new levels particularly if the VIX index shows any sudden spikes in volatility.
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