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A short-term rebounding opportunity of Nasdaq and gold's bullish break-out

nasdaq gold

US NDAQ 100 – Cash, daily         

The microeconomic negatives are the ongoing bearish factors that pressure the tech-heavy index. Rising rates and high inflation are causing a slowdown in economic growth, translating into companies’ weakening first-quarter performances and negative second-quarter guidance.

Nasdaq may start establishing rebounding opportunities after falling 23% from its April high, which is the second wave of downtrend this year. The index rapidly rebounded in mid-March after falling 21% from the January high.  

(Click to see the enlarged chart)

CMC Markets Client Sentiment 

Gold – Cash, Daily                 

A strong US dollar and rising bond yields are the recent bearish factors that shaped the downtrend of the gold price. With the bond yields moderating from highs, gold starts to build the upside momentum. The selloff in the equity markets may continue to support gold’s rebounding power as a typical safe-haven asset. 

(Click to see the enlarged chart)

CMC Markets Client Sentiment 

Disclaimer: Client Sentiment is provided by CMC markets for general information only, is historical in nature, and is not intended to provide a form of trading or investment active – it must not form the basis of your trading or investment decisions. 


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