Nasdaq Technical Analysis – The positive sentiment drives the price higher ...Middle East

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Nasdaq Technical Analysis – The positive sentiment drives the price higher
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Fundamental OverviewThe Nasdaq bounced strongly from the lows last week following the good US Jobless Claims figures as the data quelled some of the fears around the labour market after the weak US NFP report. That’s been also evident from the market pricing for rate cuts as expectations for a 50 bps cut in September kept on being pared back with now a 25 bps move seen as more likely. All of the above contributed to a more positive risk sentiment in the market with the focus now on the US CPI report tomorrow where benign figures will likely give the bulls some more support. Nasdaq Technical Analysis – Daily TimeframeOn the daily chart, we can see that the Nasdaq is approaching a key downward

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