A Technical Analysis on NASDAQ: August 25, 2022
NASDAQ Update:
Just like most of the broader Financial Market, NASDAQ100 does not seem to be giving out positive signs here. Judging by the charts, it is rather important to focus on what is actually happening over there at NASDAQ
The price action broke out of the triangle expanded but eventually went back inside only within a matter of days. This scenario can easily be deemed as a fake-out. This is because, the price already retreated back inside the same pattern.
On the brighter side, there’s a potential head and shoulder formation that is currently at play and might soon play out at any given time.
The next key support hovers at $12,300. The broader crypto market might follow in the footsteps as well if there’s a rapid decline in this market. Therefore it is vital to keep a check on the broader scope of things if you are well interested to maintain your smaller or larger portfolios.
However, both the technical indicators, coupled with an understanding of the Moving Averages indicate that it would not be such a bad idea to invest. These indicators point out that it may be a good idea to invest and buy your share of the pie.
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