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Figure: Nasdaq, H4, TradingView Figure: Nasdaq, H4, TradingView
Major stock indices extended their decline for the third consecutive session, pressured by continued selling in sovereign bonds and a surge in 30-year Treasury yields to their highest levels since 2007, weighing heavily on market sentiment. Ongoing geopolitical uncertainty, alongside the continued closure of the Strait of Hormuz, has also increased investor caution, according to analyst.
Meanwhile, concerns are mounting in technology markets over the possibility of sharp volatility in the semiconductor sector, driven by the significant rise in spending on artificial intelligence infrastructure.
Looking at the attached chart, the Nasdaq index remains under pressure within a descending price channel, with clear resistance near the 29,050 level, reinforced by the 20-period moving average on the four-hour timeframe. Accordingly, the current sideways movement is expected to persist, particularly if prices stabilize above the anticipated support zone around 28,600, according to analyst analysis.
Today’s trading session carries significant importance as markets await the release of the Federal Reserve meeting minutes later this evening, which may provide further clues regarding the future path of interest rates.
Disclaimer: The content published above has been prepared by CFI for informational purposes only and should not be considered as investment advice. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell. The information provided does not have regard to the specific investment objectives, financial situation, and needs of any specific person who may receive it, and is not held out as independent investment research and may have been acted upon by persons connected with CFI. Market data is derived from independent sources believed to be reliable, however, CFI makes no guarantee of its accuracy or completeness, and accepts no responsibility for any consequence of its use by recipients.
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