U.S. Futures Plunge on Recession Fears (USNAS100)
U.S. Futures Plunge Nearly 4% Amid Recession Fears and Global Market Sell-Off
1. Nasdaq Technical Analysis:
Last week, the Nasdaq saw a decline of approximately 10.5% due to investor fears of a recession and geopolitical tensions.
Outlook:
The bearish trend is expected to continue towards 17,360 and 17,020 as long as the price remains below 17,875.
1. Nasdaq Technical Analysis:
Last week, the Nasdaq saw a decline of approximately 10.5% due to investor fears of a recession and geopolitical tensions.
Outlook:
The bearish trend is expected to continue towards 17,360 and 17,020 as long as the price remains below 17,875.
- Bullish Scenario:
A reversal is anticipated if the price rises above 17,875 and closes a 4-hour candle above this level, targeting 18,150 and 18,430. - Bearish Scenario:
If the price trades below 17,775, it is likely to drop to 17,360 and 17,000, potentially breaking 16,990 to reach as low as 16,420. - Key Levels:
- Pivot Line: 17750
- Resistance Levels: 17870, 18140, 18430
- Support Levels: 17370, 17050, 16500 - Today's Expected Range:
The price is anticipated to fluctuate between the support at 16,990 and the resistance at 17,880.
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2. U.S. Futures Plunge as Recession Fears Grip Investors
U.S. stock index futures tumbled on Monday, with Nasdaq futures falling nearly 4%, as recession fears spread through global markets. The stock markets across Asia and Europe experienced significant declines, and bond yields fell as investors flocked to safe-haven assets. Many are betting that the U.S. Federal Reserve will need to cut interest rates quickly to stimulate growth.
All megacap and growth stocks, which had been the main drivers of the indexes reaching record highs earlier this year, dropped sharply in premarket trading.
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