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Published: 21 August 2026,06:30
Chart The Market
Nasdaq, H4:
Nasdaq has extended its decline in the latest session, with the index now forming a lower-low price pattern. This deterioration in price structure further reinforces the view that a bearish trend reversal may be developing following the index’s previous bullish trajectory.
Nasdaq is currently hovering near its immediate support level at 29,100, making this a critical level to watch in the near term. A decisive break below this support would provide further confirmation of the bearish bias and indicate that selling pressure is accelerating.
Should the breakdown occur, Nasdaq could extend its decline toward the next key support level near 28,480. This level is likely to become an important test for the bearish move, as buyers may attempt to defend the market and trigger a technical rebound.
Overall, the formation of lower lows has strengthened the bearish outlook for Nasdaq. A sustained break below 29,100 would further justify the bearish view and could open the path toward 28,480 in the next leg.
Resistance Levels:29,660.00, 30,186.00
Support Levels: 29,086.00, 28,480.00
XAGUSD, H4
Silver has broken above its short-term resistance level near $66.40 following a false breakdown toward its near-term low around $62.55. The quick recovery from the false breakout and subsequent move above $66.40 suggest that buyers have regained control and that the underlying bullish momentum remains intact.
The successful breakout above $66.40 provides a positive technical signal, indicating that the previous downside move may have been a liquidity grab rather than the beginning of a sustained bearish trend. As long as silver remains supported above the broken resistance level, buying pressure could continue to drive the metal higher.
Should the bullish momentum persist, silver could extend its current rally toward the next major resistance zone near $74.00. This level is likely to attract stronger selling pressure and could become an important test of the sustainability of the current bullish trend.
Overall, the false breakdown near $62.55, followed by the breakout above $66.40, strengthens the bullish outlook for silver. A sustained move above $66.40 could pave the way for the metal to challenge the $74.00 resistance zone in the next leg.
Resistance Levels: 69.70, 73.70
Support Levels: 65.35, 61.60
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