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Nasdaq 100 tests key resistance at 25,890 – Société Générale
Key Takeaways (30s Read)
The Nasdaq 100 is testing a key resistance at 25,890 after breaking a descending channel and retaking the 50-DMA.
The Nasdaq 100 is currently testing a significant resistance level at 25,890. Société Générale's FX analysts note that it has recently broken a descending channel and regained the 50-day moving average (50-DMA). This recovery serves as an optimistic signal for market participants; however, momentum remains capped near the 25,890 gap. This level is crucial for any potential upward move. Should the Nasdaq 100 manage to break through this resistance, it might enter a new bullish trend. Conversely, if the resistance holds, there is a risk of a price correction.
AI Analyst
AI Opinion
"The Nasdaq 100 is at a critical juncture in determining its next trend. The resistance at 25,890 is clearly significant, and breaking through this level would result in a strong buy signal. The recovery above the 50-DMA indicates a positive short-term trend; however, if this resistance level holds, the likelihood of a price correction increases. Market sentiment and economic indicators will play a crucial role in shaping the next moves. Additionally, the implications of these movements could extend to other major markets and assets."
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