How Will Nasdaq React to the US-China Deal?

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For a long time, the market moves inside the green channel. Apparently, we see a bullish trend from its lower bound in the direction of the upper wall.

e fact that the price has been above the moving average line for a long time, we can conclude that the bulls have a good potential to continue growing.

Thus, during the next trading week, the price may rise in the direction of the resistance level of 9394.5, which is on the upper bound of the green channel.

The downward scenario may become relevant if the price breaks the support level of 8961.5, which is formed by the moving average. In this case, the bears can open a path in the direction of the lower wall of the green channel and the support level of 8741.3.

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