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NDQ100 (Nasdaq) | Daily Chart Analysis | Price Breakdown Pre-CPI | INDICES

Published: 10.04.2024
by Joseph Jeffriess

Today’s focus: NDQ100

Pattern – Range
Support – 17,832
Resistance – 18,355

Hello traders! Welcome back to today’s analysis, where we’re delving into the Nasdaq’s daily performance, focusing on critical patterns, support, and resistance levels.

At present, the NDQ100 finds itself range-bound, with support resting at 17,832 and resistance at 18,355. The burning question on traders’ lips today is how the Consumer Price Index (CPI) data will sway market sentiment – will it lean bearish or bullish?

In yesterday’s session, buyers showcased resilience by thwarting a potential downturn and reversing losses. The pivotal factor now lies in whether positive CPI data and insights from previous sessions will fortify buyer confidence and maintain their grip on the market.

As we traverse through these primary levels, the market’s trajectory will predominantly hinge on the CPI figures. Will they ignite an upward or downward breakout? Traders must also remain vigilant against false breakouts, a prevalent hazard in volatile markets.

Nasdaq Analysis: Price Patterns, Support, and Resistance Levels

Good trading.

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