NASDAQ

We last spoke about the Nasdaq price action on the 22nd of February .In that post price plummeted bearishly to new lows. We also highlighted the possible areas price could be trading towards. In this post (https://fxsits.com/the-nasdaq-price-action-plummets-so-what-now/) price traded at level 13444.6 .Today the NDXm (Nasdaq) finds support and moves bullish why is this so?

NDXm H4 chart 1 March 2021
Nasdaq H4 chart 1 March 2021

Well since then sellers continued to push the market bearish to level 12818.0 where it managed to find support. This level also proves to be a major support level . Looking at the chart you will notice how price faces difficulties breaking past that level. Friday’s close proved to be a good signals for buyers . We saw price end bullishly after the NDXm finds support at level 13444.6

Looking at the chart you may notice that today’s price movement shows huge potential of bullish movement. Its as if buyers waited for sellers to drop the market to level 13444.6 in order to enter the market at a cheaper price.

NDXm Daily chart 1 March 2021
Nasdaq Daily chart 1 March 2021

Our analysts believe buyers could possibly push the market bullish and break past its higher high which is set at Level 13902.9 and even move further.

NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets

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