Synopsis: Analyzing the daily chart data for NASDAQ, Dow Jones, and FTSE 100, this article provides detailed observations along with entry and exit points for potential trades. The analysis encompasses pivot points, technical indicators, and moving averages, offering insights into market trends and possible trading opportunities.
Introduction: In the past two days, Dow Jones and NASDAQ experienced significant drops followed by strong recoveries, mirroring similar trends in Germany's DAX and the UK's FTSE 100. As the markets await the US CPI data release, volatility is expected to increase throughout the day. This article delves into potential trading positions using charts and indicators for better profitability.
Observations for NASDAQ:
NASDAQ's daily chart reveals a pattern of lower lows and lower highs.
15,100 is a crucial support level, with potential to drop further to 15,000.
15,300 acts as a strong resistance, while 15,200 signals potential bullishness.
A buy entry at 15,200 could target 15,242 and 15,300 resistance levels.
For a full reversal, NASDAQ needs to trade above 15,350.
Technical indicators show overbought levels and Divergence.
Trade Recommendations for NASDAQ:
Buy at 15,200, target 15,242 and 15,300.
Only consider reversal if NASDAQ trades above 15,350.
Sell at 15,140, expect 15,100 support.
Observations for Dow Jones:
Dow Jones showcases consolidation with higher highs and lower lows.
35,000 is a crucial support level, with 34,600 as a potential target.
Resistance levels include 35,300, 35,360, and 35,400.
A breakout above 35,500 confirms bullish momentum.
Technical indicators exhibit Divergence and convergence.
Trade Recommendations for Dow Jones:
Sell below 35,200, target 35,100.
Buy at 35,260, anticipate 35,300 and 35,340.
Reversal confirmed above 35,500.
Observations for FTSE 100:
FTSE 100 follows a bullish channel with support at 7,540 and 7,535.
A breakout above 7,600 signals potential bullish momentum.
Resistance levels include 7,620, 7,650, and 7,680.
Technical indicators indicate bullishness and convergence.
Trade Recommendations for FTSE 100:
Buy at 7,585, aim for 7,600 and beyond.
Sell at 7,560, consider 7,540 as support.
Conclusion: The analyzed daily chart data for NASDAQ, Dow Jones, and FTSE 100 provides valuable insights into potential trading positions. While all three indices show varying patterns, crucial support and resistance levels, as well as technical indicators, offer guidance for traders. It is important to remain vigilant and adjust trading strategies accordingly based on the observed trends.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Trading in the stock market carries risks, and readers should conduct thorough research and consider seeking advice from financial professionals before making any investment decisions.
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