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Nasdaq 100 Index continues its rapid rise

Technical Analysis
By Mostafa Mahmoud
Nasdaq 100 Index continues its rapid rise
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NASDAQ

The Nasdaq Index is trading around the resistance level of $21,250, and prices are likely to break above it to target the $22,000 level. This scenario would be invalidated if the support level of $20,250 is broken to the downside during today’s trading.

Support

 20250 19200 18500
Resistance 21250 22000

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The Nasdaq 100 Index continued its strong rise, supported by a rally in major technology stocks such as Nvidia and Palantir, gaining 1.8% during the session. This helped the index recover its year-to-date losses and achieve modest annual gains. The positive performance followed weaker-than-expected U.S. inflation data, which strengthened expectations of interest rate stabilization, in addition to easing trade tensions between the United States and China after the announcement of temporary tariff reductions.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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