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Nasdaq 100, Dow, and DAX Continue Bullish Recovery

Written by

Ezekiel Chew

Updated on

August 12, 2024

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Nasdaq 100, Dow, and DAX Continue Bullish Recovery

Written by:

Ezekiel Chew

Last updated on:

August 12, 2024

Nasdaq 100 Eyes Further Growth

The Nasdaq 100 ended the week on a strong note, rallying above 18,000 and remaining above the critical 200-day SMA. Currently, buyers hold the upper hand, pushing the index off its recent lows. The next targets are 19,000 and the late July peak at 19,500. However, a close below 18,000 could indicate the beginning of a new downward trend.

Nasdaq 100 Daily Chart as of August 18th, 2024 (Source: DailyFX)

Dow Recoups Recent Declines

The Dow Jones Industrial Average also shows a bullish trend after rebounding from last week’s lows near 38,500. If the index closes above the 50-day SMA, it would strengthen the bullish outlook and pave the way toward 40,000 and beyond. Conversely, a close below 39,000 could signal a retest of the recent lows.

Dow Jones Daily Chart as of August 18th, 2024 (Source: DailyFX)

DAX Continues Its Upward Drive

The DAX nearly touched 17,000 last week but has since recovered strongly, moving above the 200-day SMA. With the index reclaiming the April low, it now appears set to test 18,000. A close above this level would support the expectation of a retest of the July highs. On the other hand, sellers will aim for a close below 17,500 to bring the index back under the 200-day SMA.

DAX Daily Chart as of August 18th, 2024 (Source: DailyFX)

About Ezekiel Chew​

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

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Nasdaq 100, Dow, and DAX Continue Bullish Recovery

4.0
Overall Trust Index

Written by:

Updated:

August 12, 2024

Nasdaq 100 Eyes Further Growth

The Nasdaq 100 ended the week on a strong note, rallying above 18,000 and remaining above the critical 200-day SMA. Currently, buyers hold the upper hand, pushing the index off its recent lows. The next targets are 19,000 and the late July peak at 19,500. However, a close below 18,000 could indicate the beginning of a new downward trend.
Nasdaq 100 Daily Chart as of August 18th, 2024 (Source: DailyFX)

Dow Recoups Recent Declines

The Dow Jones Industrial Average also shows a bullish trend after rebounding from last week's lows near 38,500. If the index closes above the 50-day SMA, it would strengthen the bullish outlook and pave the way toward 40,000 and beyond. Conversely, a close below 39,000 could signal a retest of the recent lows.
Dow Jones Daily Chart as of August 18th, 2024 (Source: DailyFX)

DAX Continues Its Upward Drive

The DAX nearly touched 17,000 last week but has since recovered strongly, moving above the 200-day SMA. With the index reclaiming the April low, it now appears set to test 18,000. A close above this level would support the expectation of a retest of the July highs. On the other hand, sellers will aim for a close below 17,500 to bring the index back under the 200-day SMA.
DAX Daily Chart as of August 18th, 2024 (Source: DailyFX)
ezekiel chew asiaforexmentor

About Ezekiel Chew

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

RELATED ARTICLES

Nasdaq 100, Dow, and DAX Continue Bullish Recovery

4.0
Overall Trust Index

Written by:

Updated:

August 12, 2024

Nasdaq 100 Eyes Further Growth

The Nasdaq 100 ended the week on a strong note, rallying above 18,000 and remaining above the critical 200-day SMA. Currently, buyers hold the upper hand, pushing the index off its recent lows. The next targets are 19,000 and the late July peak at 19,500. However, a close below 18,000 could indicate the beginning of a new downward trend.
Nasdaq 100 Daily Chart as of August 18th, 2024 (Source: DailyFX)

Dow Recoups Recent Declines

The Dow Jones Industrial Average also shows a bullish trend after rebounding from last week's lows near 38,500. If the index closes above the 50-day SMA, it would strengthen the bullish outlook and pave the way toward 40,000 and beyond. Conversely, a close below 39,000 could signal a retest of the recent lows.
Dow Jones Daily Chart as of August 18th, 2024 (Source: DailyFX)

DAX Continues Its Upward Drive

The DAX nearly touched 17,000 last week but has since recovered strongly, moving above the 200-day SMA. With the index reclaiming the April low, it now appears set to test 18,000. A close above this level would support the expectation of a retest of the July highs. On the other hand, sellers will aim for a close below 17,500 to bring the index back under the 200-day SMA.
DAX Daily Chart as of August 18th, 2024 (Source: DailyFX)
ezekiel chew asiaforexmentor

About Ezekiel Chew

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

RELATED ARTICLES

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