On the chart, Nasdaq is consolidating above crucial psychological support of 23500, creating a bullish cup & handle pattern
However, the prices despite Governor Cook's news failed to break the 0.618 Fib level (23586),
Still, Trump’s firing of Fed Governor Lisa Cook has created majority in the Fed, which has risen prospects of deeper rate cuts.
And lower rates historically support tech stocks.
Therefore, if prices breaches the immediate resistance at 0.618 Fib level (23586), then the US tech index will continue its bullish momentum toward 23756–23,970.
What Indicators are indicating:
1) RSI is hovering in the buying zone near 58, showing momentum is recovering but not yet overbought — room for further upside.
2) Bollinger Bands are widening slightly and turning their trend toward up-side, hinting at increasing volatility and potential for breakout trades.
Overall bias: Buy on dips toward 23500–23450 zones with targets at 23756 and 23950 intraday.
However, the prices despite Governor Cook's news failed to break the 0.618 Fib level (23586),
Still, Trump’s firing of Fed Governor Lisa Cook has created majority in the Fed, which has risen prospects of deeper rate cuts.
And lower rates historically support tech stocks.
Therefore, if prices breaches the immediate resistance at 0.618 Fib level (23586), then the US tech index will continue its bullish momentum toward 23756–23,970.
What Indicators are indicating:
1) RSI is hovering in the buying zone near 58, showing momentum is recovering but not yet overbought — room for further upside.
2) Bollinger Bands are widening slightly and turning their trend toward up-side, hinting at increasing volatility and potential for breakout trades.
Overall bias: Buy on dips toward 23500–23450 zones with targets at 23756 and 23950 intraday.
Certified Market Technician
WA: +33755531401
marketinvestopedia.com/
WA: +33755531401
marketinvestopedia.com/
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Certified Market Technician
WA: +33755531401
marketinvestopedia.com/
WA: +33755531401
marketinvestopedia.com/
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.