Nasdaq: Wedge Correction Ahead of Key Breakout
19 August 2025
In today’s technical analysis, we focus on NASDAQ, which has been in a bearish correction phase since August 13. After the recent upswing, the index is consolidating inside a wedge pattern marked with red lines. This tightening price action signals that a decisive breakout may be near.
One level stands out: the yellow zone around 23,660 points. This area acted as resistance on August 11, and later as support on August 15, 18, and now again on August 19. Its repeated role highlights its importance as a pivot point for traders.
How to approach this? If the price breaks below the yellow support and then slips under the lower wedge boundary, that would confirm a bearish breakout and trigger a sell signal. On the other hand, a clean move above the upper wedge line would end the correction and provide an invitation to go long.