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Published: 28 April 2026,03:38
Chart The Market
Nasdaq, H4:
The Nasdaq is surging into fresh all-time highs (ATH), with price showing strong bullish continuation after a decisive breakout. The most important development here is the clean break above the 26,390 resistance zone, which previously acted as a major ceiling. This breakout confirms a continuation of the broader uptrend, with price now entering price discovery that a phase where historical resistance is limited and momentum tends to dominate.
Price is currently trading around 27,300, holding firmly above the breakout zone. As long as price remains above 26,390, the structure stays strongly bullish. Immediate support now sits at 26,390, followed by 25,600, which aligns with the prior consolidation range and Fibonacci retracement zone.
On the upside, with ATH conditions in play, there are no clear resistance levels, meaning price can continue to extend higher driven by momentum.
Momentum indicators strongly support the bullish scenario. The RSI is pushing into overbought territory near 78, reflecting strong buying pressure and trend strength rather than immediate reversal. Meanwhile, the MACD remains elevated in positive territory, with expanding momentum confirming sustained bullish acceleration.
Overall, Nasdaq is in a strong bullish expansion phase at ATH, with continuation favored. While short-term pullbacks are possible due to overbought conditions, the broader bias remains firmly bullish as long as price holds above the breakout zone.
Resistance Levels: 27,460.00, 28,530.00
Support Levels: 26,390.00, 25,060.00
GOLD, H4
Gold is transitioning into a bearish continuation phase, with price compressing within a descending channel after failing to sustain its prior recovery.The most important development here is the clear breakdown below the ascending trendline, followed by the formation of a descending channel, indicating that sellers have regained control. Price is now consistently printing lower highs and lower lows, reinforcing the bearish structure.
Currently trading around 4,675, price is approaching immediate support at 4,670, with a deeper downside level at 4,600. A confirmed break below this zone could open the path toward 4,500, aligning with the lower boundary of the channel.On the upside, resistance is now layered at 4,730, where the broken trendline and previous structure converge. As long as price remains below this area, any rallies are likely to be corrective rather than a true reversal.
Momentum indicators support this view. The RSI is hovering in the low-40s, showing weak bullish attempts and lack of strong buying pressure, while the MACD remains in negative territory with flat momentum indicating sustained bearish bias without strong acceleration.
Overall, gold is firmly in a short-term downtrend, with continuation risk to the downside unless price can break out of the channel and reclaim key resistance levels.
Resistance Levels: 4730.00, 4785.00
Support Levels: 4670.00, 4600.00
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