Wall Street Gains as Nasdaq Stays Bullish Ahead of Jackson Hole
Wall Street Edges Higher as Focus Shifts to Jackson Hole Meeting
Nasdaq Technical Analysis
The price has reversed and stabilized within the bullish zone after breaking above 19,625. Today, consolidation is likely between 19,625 and 20,100 until a breakout occurs.
Bullish Scenario:
As long as the price remains above 19,625, the uptrend is expected to continue toward 20,100. A correction to 19,625 is possible before resuming the bullish trend.
Bearish Scenario:
A bearish move could unfold if the price breaks below 19,625, confirmed by a 4-hour candle close beneath this level, potentially leading to a drop towards 19,390 and a test of the 19,210 support.
Key Levels:
- Pivot Point: 19,780
- Resistance Lines: 20100, 20260, 20480
- Support Lines: 19390, 19220, 18940
Expected Trading Range Today: 19,525 to 20,100
Trend: Bullish while above 19,625
Nasdaq Technical Analysis
The price has reversed and stabilized within the bullish zone after breaking above 19,625. Today, consolidation is likely between 19,625 and 20,100 until a breakout occurs.
Bullish Scenario:
As long as the price remains above 19,625, the uptrend is expected to continue toward 20,100. A correction to 19,625 is possible before resuming the bullish trend.
Bearish Scenario:
A bearish move could unfold if the price breaks below 19,625, confirmed by a 4-hour candle close beneath this level, potentially leading to a drop towards 19,390 and a test of the 19,210 support.
Key Levels:
- Pivot Point: 19,780
- Resistance Lines: 20100, 20260, 20480
- Support Lines: 19390, 19220, 18940
Expected Trading Range Today: 19,525 to 20,100
Trend: Bullish while above 19,625
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