NASDAQ rebounds after early plunge; eyes key resistance at 50% midpoint ...Middle East

The recovery has since pushed the index above a key swing level at 17,238.24, shifting the focus back to the 50% retracement of the move down from the December 2024 all-time high. That midpoint stands at 17,494.31. Yesterday, the index briefly moved above this level but failed to hold the gains into the close.

Near-term risk now sits at 17,238.24. Stronger support remains at the 50-hour and 200-hour moving averages. A break below both would shift control back to sellers and undermine the bullish momentum.

This article was written by Greg Michalowski at www.forexlive.com.

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