Published by InvestingLive.com, the upcoming evolution of ForexLive
As the above Nasdaq Futures Technical Analysis video of today shows, as of July 4, 2025, NASDAQ futures are showing signs of a short-term pullback after a strong upward breakout. On the 30-minute chart, the market previously broke out above the December 24 all-time high, forming a rising channel. After consolidating briefly and retesting the breakout zone, price action continued higher, reaching above the midpoint of the ascending channel.
Why does today’s price action matter if U.S. markets are closed?
What are the key support levels to watch?
Should that area fail to hold, the next level to monitor is 22,775, which corresponds with the VWAP from July 2. A decisive break below this VWAP level could open the door for a broader correction or a more significant trend shift.
Yes, the larger trend remains bullish as long as price stays within the rising channel structure. However, today’s pullback may indicate that momentum is cooling off in the short term. If buyers defend the lower channel edge and VWAP, a new leg higher remains possible. Conversely, a clean break of these levels may shift the narrative to caution or neutral.
This session is unfolding with reduced U.S. participation, so caution is warranted. Key support tests around 22,830 to 22,855 could set the tone for the next move. A break below 22,775 should be taken seriously, as it would mark a shift below both the channel and the VWAP reference point.
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This article was written by Itai Levitan at www.forexlive.com. Read More Details
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