Type: Bullish ContinuationKey Levels:Resistance: 15621.25Pivot: 14826.75 Support: 14510.25Preferred Case:Price is near pivot level of 14826.75 in line with 50% Fibonacci retracement. Price can potentially go top the resistance level of 15261.25 which is also 50% Fibonacci retracement and 61.8% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator.Alternative Scenario:Price can potentially dip to the support level of 14510.25 in line with 50% Fibonacci retracement.Fundamental news:Key event to look out for in regards to NASDAQ would be tomorrow’s CPI data. Inflation numbers will directly affect the NASDAQ , as it is tech heavy. In the scenario where the inflation numbers are greater than expectations, you can expect a drop in the stock market as interest rate hikes continue to plague the market. Do take note that as fundamentals and technicals do not line up, there will be a risk on factor when looking into NQ1!.
Source: Tickmill
