Nasdaq and the Impact of the U.S. Elections

NASDAQ

The Nasdaq index is moving in an upward trend, and prices are likely to target the resistance area at $20,250. This scenario is invalidated if the support level at $19,900 is broken.

The Nasdaq index is trading in an upward trend, consistently attracting the attention of investors and analysts in the financial markets. However, the index has begun to show some signs of weakness and slowing down due to facing a strong secondary resistance level at 20230, an area that requires breaking through to achieve further gains. The current price movement indicates a clear difficulty in reaching new highs, adding doubts about the continuity of the upward trend.

On the technical side, the Relative Strength Index (RSI) is showing a negative divergence, signaling that prices may face a decline if the Nasdaq index fails to close above the upper Bollinger band, currently located at the 20600 level. Failure to close above this level may lead to additional selling pressure, resulting in a drop in prices.

On the economic and political front, we may see some slowdown in price volatility, especially with the approach of the anticipated U.S. election results, which play a crucial role in determining the market direction. Additionally, the upcoming Federal Reserve meeting could have significant effects on the market’s trajectory, as investors await statements regarding monetary policy and interest rates, increasing caution among investors as they wait for any signals indicating potential changes in price trends.

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