Nasdaq roars higher again.

14/12/2020

Monday has been a great day for US indices so far (again), and the tech-heavy Nasdaq 100 index was trading at around 12,500 USD during the US session, one percent stronger on the day.

It looks like the last week's drop to the previous highs (now support) was a good buying opportunity, and investors quickly bought the dip. Therefore, as long as the Nasdaq remains above previous highs of 12,200 USD, the short-term outlook seems bullish.

If bears managed to push the price below that support, a further decline toward 12,000 USD could occur. The next strong support might be at the broken bearish trendline, currently near 11,950 USD.

On the other hand, the resistance seems to be near 12,540 USD, and if not held, Nasdaq could attack the current all-time highs near 12,670 USD. 

The long and medium-term trends still seem bullish as the Fed is about to unleash even more easing at its meeting this week. Therefore, short-term dips appear as a good investment opportunity. 
Cookie Policy: The Axiory website uses cookies and by continuing using the website you consent to this. Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please read the full Privacy Policy.