Nasdaq Outlook: Key Levels and Potential Breakout Scenarios

Oct 7, 2024

Nasdaq Technical Analysis:

The price will touch 19860, with a subsequent break below 19780 confirmed by a 4-hour candle close likely signaling a bearish trend toward 19570. A close above 19860 is required for a bullish outlook,
which could lead to a move up to 19990. However, the Nasdaq may remain in a consolidation phase between 19860 and 19990 until a breakout occurs.

Key Levels:
Pivot Point: 19945
Resistance Levels: 19990, 20280, 20440
Support Levels: 19860, 19620, 19520

Trend:
- Consolidation 19860 - 19990
- Bearish below 19860
- Bullish above 20090

Oct 8, 2024

Trade closed: target reached

Nasdaq
Live Update

The price movement aligns with yesterday's forecast, as it dipped and is now poised to approach 19,990. A subsequent decline towards 19,860 is anticipated, and a 4-hour candle closure below this level could confirm a bearish trend, with targets at 19,690 and 19,520. Conversely, a 4-hour candle closure above 19,860 will trigger the bullish outlook.


Key Levels:
Pivot Point: 19925
Resistance Levels: 19990, 20280, 20440
Support Levels: 19860, 19620, 19520

Trend:
- Consolidation 19860 - 19990
- Bearish below 19780
- Bullish above 19990