Nasdaq bounces from key level (11300 still weighs heavy)
|he Nasdaq faked out of the previous lows and is back above 11150 pre NY trading. It also has bounced back from the structure created from Early June 2020. The 11300 level still wigh heavy here since it was the level that we saw some bearish rejection from back in Agust.
Should price break with this level we could see a retest of the previous lows around the 11550 level but this would mean that the current bearish structure is no longer in play so active bulls might rally price above this level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.