Short

NAZDAQ - Weekly Forecast - Technical Analysis & Trading Ideas

Midterm forecast:

20796.85 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

A peak is formed in daily chart at 22254.20 on 02/18/2025, so more losses to support(s) 19337.48, 18815.60, 18313.47 and more depths is expected.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (20554.38 to 20796.85).
We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

Beginning of entry zone (20554.38)
Ending of entry zone (20796.85)

Take Profits:

19901.88
19337.48
18815.60
18313.47
17841.19
16988.69
16247.08

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ForecastCity Support Team

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