While the Dow is struggling to hold recent gains, the Nasdaq 100 is back at a new high. Meanwhile, the Nikkei 225’s choppy recovery continues
2024-05-22 23:15:00The index continues to drift back, consolidating after the gains of late April and early May.In the short-term, the previous highs at 39,287 could form possible support, while below this lies the 50-day simple moving average . Fresh upside would come with a close back above 40,000.Earnings from Nvidia helped to drive the price to a new record,
Unlike the Dow, the index has been able to maintain its gains, and remains above the previous record high of 18,352, set back in March.While the price slipped below the 50-day SMA on Wednesday, but was able to recover following Nvidia’s earnings. This leaves the move higher from mid-April intact, especially given the test of trendline support from the April low. A close back above 39,000 would reinforce the bullish view, and set up a test of trendline resistance from the March highs.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances.
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