🎯 NASDAQ 31st January 2025 Daily Analysis Based on Main Key Levels

The NASDAQ is currently trading at a Daily Current Market Price (DCMP) of 21,677. Below this level, the market finds support, while above it, resistance levels come into play. Here’s a detailed analysis of key levels, swing highs/lows, and actionable trade setups based on technical and fundamental analysis.

Key Levels Summary

Below DCMP (21,677) – Support Levels

BUY/Support1: 21,638

BUY/Support2: 21,198

BUY/Support3: 20,924

Above DCMP (21,677) – Resistance Levels

SELL/Resistance1: 21,918

SELL/Resistance2: 22,088

SELL/Resistance3: 22,363

Swing High and Swing Low

Swing High: 22,143

Swing Low: 20,515

Technical Analysis Overview

Pivot Levels: The daily pivot is at 21,643, acting as a critical intraday level.

Fibonacci Levels: Key retracement and extension levels align with the support and resistance zones mentioned above.

RSI Divergence: No significant divergence observed, indicating a balanced momentum.

MACD Crossing: The MACD is hovering near the zero line, suggesting a potential breakout or reversal depending on price action.

Trade Setups

Intraday Buy Trade Setup

Entry Price: 🎯 21,643

Stop Loss: 🛑 21,338

Take Profit 1: 🎯 21,918

Take Profit 2: 🎯 22,088

Rationale: The price is near the daily pivot, which aligns with the BUY/Support1 level. A bounce from this zone offers a favorable risk-reward setup.

Intraday Sell Trade Setup

Entry Price: 🎯 21,918

Stop Loss: 🛑 22,088

Take Profit 1: 🎯 21,643

Take Profit 2: 🎯 21,338

Rationale: The SELL/Resistance1 level at 21,918 is a strong resistance zone. A rejection here could lead to a pullback toward support levels.

Conclusion

The NASDAQ is currently trading within a defined range, with key support at 21,638 and resistance at 21,918. Traders should watch for price action around these levels for potential intraday opportunities. The swing high at 22,143 and swing low at 20,515 provide additional context for broader market direction.