Critical support levels in focus as Dow Jones and Nasdaq 100 signal potential market reversal.
The Dow Jones Industrial Average stands at a pivotal moment, signalling a potential pullback. Friday's close near the critical 41,810 support level, tested repeatedly since September 2024, underscores its importance. A breach below this level could activate the reversal pattern seen on the chart, driving prices to the middle of the 4-year price channel.
Dow Jones price chart Nasdaq 100 price chart Similarly, the Nasdaq 100 is walking a fine line, hovering around the 20,641 major support zone in the weekly time frame. The recent two weeks of poor performance and signs of price exhaustion call for heightened vigilance. A breakdown at this critical level could spark a deeper correction. Traders and investors should stay alert and prepared, as these key levels will shape the market's direction in the coming weeks.
Nasdaq Equities Technical Analysis
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