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Technical analysis for NASDAQ, the index formed a double bottom on the daily chart, bouncing from the 0.618 FIB retracement on the weekly chart and 0.382 FIB retracement on the monthly chart, starting a pullback. The first target for this pullback is the 0.382 FIB retracement on the weekly chart around 14 450. The second target is the 0.618 FIB retracement on the weekly chart around 15 330. If NASDAQ 100 breaks above the 0.618 FIB retracement on the daily chart, above 15 330, that will open the door for a bullish run toward the previous all-time high at 16 764.
On the other hand, if NASDAQ 100 breaks below the double bottom and the low at 13 065, that will resume the bearish trend. The first target for such a bearish breakout is the 0.618 FIB retracement on the monthly chart around 10 550-10 600.
Daily chart:
Weekly chart:
Monthly chart:
