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NASDAQ Price Prediction: Key Levels and Scenarios
The Point of Control (POC) for today is 21,735, which represents the level of highest trading volume. As long as price stays above this level, there’s no compelling reason to adopt a bearish view.Traders should monitor this level closely for signs of strength or weakness in the market.
Upside Targets and Possible Price Magnets for the NASDAQ Futures Today: 22,000 and 22,060
22,000: A key psychological and technical resistance level. It is a magnet for liquidity and a potential point for price consolidation.22,060: Positioned slightly above 22,000, this level could act as the upper boundary of resistance today.22,300: A potential resistance zone for bullish continuation.22,385 to 22,450: A broader resistance range where traders may expect significant selling pressure.
Potential Bearish Scenarios
If the price crosses above 22,060 but then falls below 22,010, this could signal weakness.To confirm a bearish reversal, traders should look for:One 30-minute candle closing below 22,010, orTwo consecutive 30-minute candles below that level for greater confirmation.21,735 (POC)21,700 and 21,670: Key support clusters below the POC.
NASDAQ Today: Market Outlook
Bullish Momentum: The bias remains bullish as long as price holds above 21,735.Consolidation or Pullback?: A move to the 22,000–22,060 range may lead to consolidation before further directional moves.Downside Risks: A sustained break below 22,010 could open the door for a test of the POC and lower support levels.Today's NASDAQ futures analysis points to a cautiously bullish outlook, with 22,000 and 22,060 acting as key upside targets. A reversal scenario is only likely if the price sustains below 22,010, leading to potential tests of lower levels like 21,735. Traders should monitor these levels and price behavior for insights into the next market move.
Stay tuned for more NASDAQ price predictions and market analysis to navigate today’s market movements effectively. Visit ForexLive.com for additioanal views.
This article was written by Itai Levitan at www.forexlive.com. Read More Details
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