Nasdaq: Weekly Forecast 20210627
Nasdaq, along with other US indices, made a strong bullish run and broke a new high again.
It was trading near the top of a 3-month rising wedge and it did get rejected at first but quickly regained losses and continued to climb higher and even breaking out of the rising wedge.
As such, we can continue to eye for more upside towards the top of a potential rising channel.
At current, the price is already about to test a demand zone at 14320, supported by a rising trendline as well.
If the price rebounds successfully, it will likely reach as high as 14700.
Should the price failed to rebound earlier, it may pull back towards 14100 to retest the previous high.
It was trading near the top of a 3-month rising wedge and it did get rejected at first but quickly regained losses and continued to climb higher and even breaking out of the rising wedge.
As such, we can continue to eye for more upside towards the top of a potential rising channel.
At current, the price is already about to test a demand zone at 14320, supported by a rising trendline as well.
If the price rebounds successfully, it will likely reach as high as 14700.
Should the price failed to rebound earlier, it may pull back towards 14100 to retest the previous high.
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