NASDAQ COMPOSITE INDEX DAILY CHART GANN ANALYSIS 15 AUGUST 2024.

Nasdaq Composite Index made a swing low at 15222.78 on 19 April 2024. From that low we had cycle target at 17125.63 which was achieved on 05 June 2024 with a gap up. earlier we made a high at 17022.66 on 28 May 2024 and then we retraced to important level of 16490.18 on 31 May 2024. We see the next cycle birthzone level was crossed again with a gap up on 12 June 2024 and it was again retested on 24 June 2024 with intermediate high at 17650.69 on 20 June 2024 which was a double top with earlier top at 17636.36 on 17 June 2024. The second cycle target comes at 18790.62. Till date we have achieved a high of 18671.07 on 11 July 2024.
We saw a good correction till 15698.49 on 05 August 2024 an Gann date. Again we have achieved the first cycle level target again at 17125.63 which was earlier achieved on 05 June 2024.We may see momentum above 17601.34 and we have supports at 16887.77. Short term traders can watch this levels for further clues on the index.
Happy Trading !!!
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