Technical Analysis of the Nasdaq Index

The Nasdaq index is moving in an uptrend on both the daily and four-hour time frames. Prices have formed an OB zone around the 29,305 level on the daily time frame, which represents an important buying area. Currently, prices are trading around 29,455, and the bullish trend is expected to continue during today’s session.

Key Economic News

The U.S. dollar is awaiting the Retail Sales Index data today, which is expected to impact the movement of the U.S. dollar and consequently affect the indices.

Liquidity Levels

Prices are expected to rise and target the 29,590 level, followed by the 29,748 level.

The bullish scenario will be invalidated if a four-hour candle closes below the 29,130 level.