NASDAQ /New All-Time Highs and Next Outlook Based on CPI Results
Technical Analysis: New All-Time Highs and Next Outlook Based on CPI Results
Next Outlook:
The price continues to follow a bullish trend towards the next key level of 20900. The price is expected to consolidate between 20400 and 20900 until a breakout occurs, initially aiming to reach 20900.
Bullish Scenario:
As long as the price remains above 20400, the bullish trend is likely to continue, targeting 20900 and 21000. There is also a possibility of a retest down to 20540 before resuming the upward movement.
Bearish Scenario:
For a bearish trend to be confirmed, the price must break below 20400 and stabilize with a 4-hour or 1-hour candle close beneath this level. This could lead to further declines towards 20100, and stabilization below 20085 could result in a drop to 19625.
Key Levels:
- Pivot Line: 20660
- Resistance Levels: 20900, 21000, 21100
- Support Levels: 20540, 20400, 20225
Today's Expected Range:
The price is expected to fluctuate between the support at 20540 and the resistance at 20920.
CPI Impact:
Given the CPI result of 3.0%, the effect is likely to be positive for indices, supporting the bullish outlook.
In summary, the direction of the price will hinge on maintaining above the key support levels and the impact of the CPI results. Traders should monitor these critical levels and economic indicators to anticipate the next market movements.
previous idea:
Next Outlook:
The price continues to follow a bullish trend towards the next key level of 20900. The price is expected to consolidate between 20400 and 20900 until a breakout occurs, initially aiming to reach 20900.
Bullish Scenario:
As long as the price remains above 20400, the bullish trend is likely to continue, targeting 20900 and 21000. There is also a possibility of a retest down to 20540 before resuming the upward movement.
Bearish Scenario:
For a bearish trend to be confirmed, the price must break below 20400 and stabilize with a 4-hour or 1-hour candle close beneath this level. This could lead to further declines towards 20100, and stabilization below 20085 could result in a drop to 19625.
Key Levels:
- Pivot Line: 20660
- Resistance Levels: 20900, 21000, 21100
- Support Levels: 20540, 20400, 20225
Today's Expected Range:
The price is expected to fluctuate between the support at 20540 and the resistance at 20920.
CPI Impact:
Given the CPI result of 3.0%, the effect is likely to be positive for indices, supporting the bullish outlook.
In summary, the direction of the price will hinge on maintaining above the key support levels and the impact of the CPI results. Traders should monitor these critical levels and economic indicators to anticipate the next market movements.
previous idea:
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