NASDAQ /Fed Rate Cut Spurs Bullish Trend But Stability Uncertain
Fed's Significant Rate Cut Elicits Muted Response, But Calm May Be Temporary
The price is expected to maintain its bullish trend, supported by strong bullish volatility following the 50 bps rate cut. Currently, as long as the Nasdaq trades above 19,690, the price is likely to target 19,970 as an initial point, with 20,100 as the next potential level. A reversal below 19,680, however, could indicate a shift to a bearish trend towards 19,535.
Key Levels:
Pivot Point: 19,690
Resistance Levels: 19,970, 20,120, 20,500
Support Levels: 19,535, 19,370, 19,160
Expected Trading Range for Today: 19,680 to 19,980
Trend: Bullish while above 19,690
Previous idea:
The price is expected to maintain its bullish trend, supported by strong bullish volatility following the 50 bps rate cut. Currently, as long as the Nasdaq trades above 19,690, the price is likely to target 19,970 as an initial point, with 20,100 as the next potential level. A reversal below 19,680, however, could indicate a shift to a bearish trend towards 19,535.
Key Levels:
Pivot Point: 19,690
Resistance Levels: 19,970, 20,120, 20,500
Support Levels: 19,535, 19,370, 19,160
Expected Trading Range for Today: 19,680 to 19,980
Trend: Bullish while above 19,690
Previous idea:
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