📊NASDAQ 6th January 2025 Daily Analysis based on Main Key Levels

Current Market Overview

Daily Current Market Price (DCMP): 21,534

Summary of Key Levels

Resistance Levels (above DCMP):

🔴 R1: 21,641

🔴 R2: 21,922

🔴 R3: 22,143

Support Levels (below DCMP):

🟢 S1: 21,467

🟢 S2: 20,905

🟢 S3: 20,731

🔍Swing Levels

Swing High: 22,143

Swing Low: 20,768

Technical Analysis

The current market price of 21,534 is positioned between the support level at 21,467 and the resistance level at 21,641. This positioning suggests potential trading opportunities based on key levels.

Trade Ideas

🟢 Intraday Buy Trade Setup

📍 Entry Price: 21,467

🛡️ Stop Loss: 20,905

🎯 Take Profit 1: 21,600

💰 Take Profit 2: 21,800

This setup targets the support level, anticipating a price rebound.

🔴 Intraday Sell Trade Setup

📍 Entry Price: 21,641

🛡️ Stop Loss: 21,922

🎯 Take Profit 1: 21,500

💰 Take Profit 2: 21,350

This setup focuses on the resistance level, indicating a potential downward movement.

Additional Technical Insights

Fibonacci Levels: Key Fibonacci retracement levels align closely with support and resistance zones, reinforcing the proposed trade setups.

RSI Divergence: Monitoring RSI can provide insights into overbought or oversold conditions, crucial for optimizing entry and exit points.

MACD Crossing: A MACD crossover may indicate momentum shifts, enhancing the reliability of the trade ideas presented.

Conclusion

The analysis of NASDAQ highlights critical levels that traders should monitor closely. The outlined trade setups provide structured opportunities based on technical analysis, allowing for informed decision-making. By integrating these insights into your trading strategy, you can navigate the market with enhanced confidence.