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Nasdaq Composite Technical Analysis - Key support in sight for the Bulls

After a big rally following the miss in the US CPI report, the market's momentum showed signs of waning as it approached a crucial resistance level and started to pull back. Despite this, the data remains supportive of the soft-landing narrative, with last week's US Retail Sales and Jobless Claims beating expectations.As we approach the FOMC rate decision, some investors might be engaging in profit-taking or adopting defensive positions, potentially contributing to the current market pullback. N... Read More

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Content Topics

Nasdaq

Composite

Technical

Analysis

Support

Sight

Bulls

Forex

Posted: Jul 24 2023, 11:14

Author Name: forexlive

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