- News & Education
August proved to be a bearish month for the Nasdaq (NDX 100) and is showing no signs of slowing down. With a strong break below the daily trend line (as seen below), the Nasdaq has re-tested the trend and is now in its continuation phase.
The price broke below the resistance area between $12230 and $12175, the Nasdaq has re-tested and respected the zone with a strong bearish candlestick to confirm the downward trend. The nearest daily support sits at $11570 and $11470, so it is possible the Nasdaq will reach in the short term. The Nasdaq could also consolidate between this range, as it has done so in the past.
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.