Intraday Analysis - Friday, Oct. 3

(NAS 100)Nasdaq clears new record
 

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Nasdaq clears records as tech and healthcare stocks boost momentum


The (NAS 100)Nasdaq soared as tech stocks and healthcare stocks jumped higher. On the chart, the break above 24700 suggests that the index might be on course for another record. A pop above the tip of a previous swing high at 24810 will prompt more sellers to cover, clearing the path for a potential continuation towards 28000. As the RSI bounces towards overbought territory, 24250 is a fresh level to contain the pullback.
 

USDJPY tests support
 

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USDJPY retests key support as traders await next market signal


The Dollar remains undecided after the recent government shutdown has left traders looking for the next signal. The move has come to retest the recent low near 146.50, suggesting the bear’s willingness to maintain the downtrend. A close above 147.30 at the start of a previous bearish breakout is crucial in curtailing the selling momentum, with 147.00 emerging as fresh support. A break above 147.50 would open the door to an extension towards 148.00.
 

XAGUSD hits fresh peak
 

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Silver climbs to fresh highs with rising volatility and support levels


Silver maintains its bullish momentum after confirming its position above 47.00. A jump above 47.50 has prompted more sellers to cover, sparking increased volatility in the process. 48.00 might be the bears’ last stronghold, and its breach could expose another 14-year high, which would be a step closer to continuing the climb. In the meantime, the RSI’s overbought condition could cause a retreat, with 46.00 being the first level to expect support.


More By This Author:

S&P Hits Record As Traders Ignore Government Shutdown
Technical Analysis: Gold - Thursday, Oct. 2
Intraday Analysis - Thursday, Oct. 2

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