Nasda 0 $TRUMP
$XAU
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Immediate update
The Nasdaq 100 index on a 5-hour chart is stabilizing at 29,603.50 near a critical 61.8% Fibonacci level, indicating a state of severe volatility between buyers and sellers. The current movement is confined to a narrow range, with conflicting momentum indicators forcing traders to stay cautious and wait for a clear breakout of one of the boundaries.

Positive momentum or a trading trap?

Nasdaq 100 is trading above the 200-hour moving average at 29,283.41, which provides strong support for the long-term uptrend. The MACD indicator reflects positive momentum (70.16 vs 43.73), and the price is above the Ichimoku cloud (range: 29,368–29,448), which is usually a sign that buyers are in control. However, there are weakness signals: the ADX is low (19.23), indicating weakness in the current trend, and trading volume is declining despite the advances—warning of a lack of conviction among buyers and resistance strength near 29,800.