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Nasdaq Composite Technical Analysis

On the daily chart below for the Nasdaq, we can see that we got the first negative close last Friday after several big positive days. The culprit was a negative news about debt ceiling talks being at a stalemate. We can also see that the rally stalled at an old swing level that should act as resistance going forward. The Nasdaq should still have an upward bias as the bullish flag pattern is still playing out perfectly. As things stand, we may keep on trading on the classic “buy the rumour” playb... Read More

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Content Topics

Nasdaq

Composite

Technical

Analysis

Forex

Posted: May 22 2023, 10:49

Author Name: forexlive

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