The Nasdaq #NDX index, in 1-hour charts is trading below the SMA of 21 and below the 7/8 of Murray, we note that it has found a strong support at 13,550. If it consolidates below this level we expect a bearish move to 6/8 Murray around 13,437.
Amazon Chief Executive Officer Jeff Bezos said Tuesday of his support for President Biden’s plans to raise corporate taxes.
In a few hours the Federal Reserve will release the minutes of its latest monetary policy meeting, adding more nuance to a message from President Jerome Powell’s press conference.
This data will also affect the bags that we see now that are operating within a range of about 40 points, maintaining the upward trend.
A break above 13,590 could point to the 13,700 target, an area of strong weekly resistance.
On the other hand, a break below Murray’s 7/8 we expect a correction to 13,437 and 13,281 there is Murray’s 5/8 and a strong support area.
Support And Resistance Levels For April 07 – 08, 2021
Resistance (1) 13,658
Resistance (2) 13,725
Resistance (3) 13,788
Support (1) 13,550
Support (2) 13,465
Support (3) 13,397