(Update) NVDA

Back then in 6 May 2022’s commentary, NVDA CFD were trading around $187 and we discussed prices may reach $161 if there’s a daily close below $183. Prices since then frequently retested $161 before rebounded to $188.11 this Friday. Based on the latest price action, a daily close back below $183 again may cause a retest of $161 support with next support at $134.51. However, a daily close above $209 level or EMA10-EMA20 golden cross, whichever comes first, may suggest potential trend reversal to the upside for NVDA CFD. This because a firm base of support may be created around the $183-$161 area. First resistance is seen at $237.55 while second resistance at $265.45.