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Nasdaq Outlook: Is the Correction Over?

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Despite the ongoing AI sector growth, the index remains under pressure alongside the broader risk-off sentiment. It is once again facing the 24,000 support and the August–October trendline. The daily RSI is leaning near the neutral 50 level, suggesting that a sustained break below 24,000 could extend the decline by another 1,000 points, testing key supports near 23,700, 23,100 and 22,700 — potentially offering another “buy-the-dip” opportunity.

On the upside, if the Nasdaq manages to hold above 24,000 and, more importantly, close above 24,800 — the mid-zone of the ascending channel respected since August 2025 — prices could advance toward the upper boundary, aligning with levels 25,000 and 25,300, marking new record highs.

- Written by Razan Hilal, CMT

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