Nasdaq Rally Faces Strong Resistance at 22,000

Nasdaq remains within the borders of its 2-year up-trending channel, and a break above 22,000–22,200 is needed to confirm the next rally toward 22,800–22,900.

On the downside, tariff pressures and AI competition have led to temporary dips to 20,800. A firm close below 21,200 and 20,800, particularly below the 2-year channel boundaries, could extend losses toward 20,300, 19,900, and 19,700, aligning with the December 2024–January 2025 down trending channel boundaries.

🔍 Key Events to Watch:
- Fed Powell’s Testimony – Part 2
- U.S. CPI Report & Monetary Policy Outlook
- AI Innovations & Rising Chinese Competition
- Tariff Announcement

- Razan Hilal, CMT