NASDAQ 3rd February 2025 Daily Analysis Based on Main Key Levels

The Daily Current Market Price (DCMP) for NASDAQ stands at 20,981. Below this level, the market finds support, while above it, resistance levels come into play. The analysis is based on key technical levels, including pivots, Fibonacci retracement, and extensions, alongside RSI divergence and MACD crossovers.

Key Levels:

Below DCMP (20,981):

Support 1: 20,837

Support 2: 20,550

Above DCMP (20,981):

Resistance 1: 21,302

Resistance 2: 21,767

Swing High and Low:

Swing High: 21,944

Swing Low: 20,622

Trade Setups:

Intraday Buy Trade:

Entry: 20,837 📈

Stop Loss: Below 20,550 🛑

Take Profit 1: 20,981 (DCMP) 🎯

Take Profit 2: 21,302 (Resistance 1) 🎯

Intraday Sell Trade:

Entry: 21,302 📉

Stop Loss: Above 21,767 🛑

Take Profit 1: 20,981 (DCMP) 🎯

Take Profit 2: 20,837 (Support 1) 🎯

Technical Indicators:

RSI: Neutral, showing no significant divergence.

MACD: Potential crossover signal, indicating a shift in momentum.

Summary:

The NASDAQ market is currently trading at 20,981, with immediate support at 20,837 and resistance at 21,302. Traders can consider intraday buy opportunities near support levels and sell opportunities at resistance levels. The swing high and low levels at 21,944 and 20,622, respectively, provide a broader context for market direction.