Price is trapped between a major historical resistance and a long-term ascending trendline — a critical decision zone.
Bullish Scenario
If price breaks and holds above 26,300:
• Target 1: 27,500
• Target 2: 28,500–29,000
• Stop-loss: Close back below 25,800
Bearish Scenario
If price loses 25,200, and especially 24,800 (trendline):
• Target 1: 23,500
• Target 2: 21,800
• Stop-loss: Reclaiming 25,500
Short Fundamental View
• Tech giants continue to drive market momentum.
• Valuations are elevated, leaving room for correction.
• Fed policy and macro data will heavily influence future price action.
Bullish Scenario
If price breaks and holds above 26,300:
• Target 1: 27,500
• Target 2: 28,500–29,000
• Stop-loss: Close back below 25,800
Bearish Scenario
If price loses 25,200, and especially 24,800 (trendline):
• Target 1: 23,500
• Target 2: 21,800
• Stop-loss: Reclaiming 25,500
Short Fundamental View
• Tech giants continue to drive market momentum.
• Valuations are elevated, leaving room for correction.
• Fed policy and macro data will heavily influence future price action.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.