NASDAQ index gives up its gains in traded to negative territory ...Middle East

From a technical perspective, the 22,000 level now serves as a potential leaning point for traders. Selling against the figure with tight stops above could offer limited risk, though it represents only the first step if sellers are to regain more meaningful control.

Back in August and early September, dips below the 200-hour moving average quickly reversed, limiting bearish momentum. For the downside bias to truly take hold this time, the index would need to break—and stay—below both the 100- and 200-hour moving averages, opening the door to a more sustained correction.

This article was written by Greg Michalowski at investinglive.com.

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