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Nasdaq is Nearing to the Lower Line of the Trend Channel

Burc Oran by Burc Oran
February 17, 2021
Reading Time: 1 min read
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Nasdaq is Getting Weaker Before the Election

NEW YORK, NEW YORK - MARCH 10: View of Nasdaq building at Times Square on March 10, 2021, in New York. The Nasdaq Composite continued falling more than half a percent during the day. Also, the move away from Apple Inc, Amazon.com Inc , Facebook Inc, Tesla Inc and Microsoft Corp, falling during the day, helped small-cap stocks rise more than double the gains of the S&P 500. (Photo by John Smith/VIEWpress)

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Nasdaq Mini Generic, Hourly

Nasdaq futures can’t get past 13775 resistance to the upside after yesterday’s fall. The lower line of the bullish trend will be important in the short-term for Nasdaq. If the price breaks the 13692 to the downside, the sell-off may extend to either 13605 or 13400. But as long as the trend channel holds, more upward surge can be expected. 13900-13965 zone may become a possible target if the price becomes steady over the 13775.

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