Market Watch Can the NASDAQ Overcome Resistance or Will It Fall?
The NASDAQ has been struggling to break above the $20,059.24 resistance level, facing multiple rejections in recent sessions. This repeated failure to push higher suggests a potential shift to bearish momentum, especially with broader market weakness observed this week. If the NASDAQ fails to clear this resistance, we could see it break down from its current channel, which has been intact since September 6, 2024.
If the price moves lower, the next key support levels are at $18,669.99 and $17,975.67. A breakdown below these levels could trigger further declines, and the market might follow suit with a broader selloff. These support levels are critical for any potential reversal. Keep a close eye on the resistance and support levels, as the direction here could influence the broader market sentiment in the coming weeks.
If the price moves lower, the next key support levels are at $18,669.99 and $17,975.67. A breakdown below these levels could trigger further declines, and the market might follow suit with a broader selloff. These support levels are critical for any potential reversal. Keep a close eye on the resistance and support levels, as the direction here could influence the broader market sentiment in the coming weeks.
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