Nasdaq Bulls Prepare for a Strong Comeback

Market Analysis – February 27th

Nasdaq bulls prepare for a strong comeback. The bulls are gearing up for a battle to regain their stance above the significant level of 17863.000. After a slight setback last week, the buyers are determined to continue their bullish voyage and reach new heights.

Nasdaq (NAS100) Key Levels

Resistance Levels: 17863.000, 17123.000
Support Levels: 16144.500, 15695.000

Nasdaq Long-Term Trend: Bullish

As the week begins, the stage is set for a fierce battle between sellers and buyers. Towards the end of the previous week, the bulls managed to push the price above the 17863.000 level. However, this upward momentum was met with a retest as sellers pulled the price lower. The sellers, at this point, have not shown any clear intention to continue their selling pressure.

Despite the pullback from the sellers last week, the buyers have been steadily pushing the price upwards. If they continue to grind at this point, it is very likely that new highs will be reached once again. The buyers are expected to gather strength and aim for a significant level of 18000.000. This will not only signify a strong comeback for the bulls but also demonstrate their ability to overcome the selling pressure.

The Nasdaq index continues to exhibit strong market volatility, making it crucial for traders to have the right signals to navigate this unpredictable terrain. Utilizing a reliable forex signal can provide traders with the proper direction and insights needed to make informed decisions.

Nasdaq Short-Term Trend: Bullish

The key level of 17863.000 holds the fate of traders this week. If the buyers manage to break above this level and sustain their momentum, it will signal strong bullish sentiment. Currently, the Stochastic Oscillator shows that the buyers are hanging at the overbought region.

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