Nasdaq Awaits Inflation Data; Bullish or Bearish Breakout Expect
Nasdaq Technical Analysis
Today’s inflation report is anticipated to drive significant market movements, particularly following unanimous agreement among Fed members to cut rates by 50 basis points.
A CPI release exceeding 2.3% is expected to support a bearish trend towards 20100. Conversely, a CPI below 2.3% would likely drive a bullish trend, targeting 20450.
Technically: as long as trades under 20280 will try to touch 20100 and then should stabilize below that to continue the bearish trend,
Otherwise, stability above 20340 will reach 20450
Key Levels:
Pivot Point: 20280
Resistance Levels: 20440, 20710, 20920
Support Levels: 20100, 19990, 19860
Trend:
- Bearish below 20280
- Bullish above 20320
Today’s inflation report is anticipated to drive significant market movements, particularly following unanimous agreement among Fed members to cut rates by 50 basis points.
A CPI release exceeding 2.3% is expected to support a bearish trend towards 20100. Conversely, a CPI below 2.3% would likely drive a bullish trend, targeting 20450.
Technically: as long as trades under 20280 will try to touch 20100 and then should stabilize below that to continue the bearish trend,
Otherwise, stability above 20340 will reach 20450
Key Levels:
Pivot Point: 20280
Resistance Levels: 20440, 20710, 20920
Support Levels: 20100, 19990, 19860
Trend:
- Bearish below 20280
- Bullish above 20320
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