Published: 4 December 2025,02:58
Chart The Market
Nasdaq, H4:
The NASDAQ chart continues to trade within a broadly constructive recovery phase, with price now pushing back toward the previous swing highs after rebounding from the mid-range support zone. The index has reclaimed the 0.618 Fibonacci region and is attempting to build momentum as it approaches the 0.786 retracement near the 25,700 level, which remains a key resistance area that previously triggered multiple rejections. Despite the recent strength, the structure still carries caution, as the index has not yet broken above the major resistance band that capped gains in late November.
Momentum indicators show improving conditions: RSI has climbed into the low-60s, suggesting rising bullish strength without entering overbought territory, and MACD is showing a firm bullish crossover with widening histogram bars, reinforcing the short-term upward momentum. However, until price decisively clears the prior highs and holds above the 0.786 Fibonacci level, the risk of another pullback remains. Overall, NASDAQ leans bullish in the short term but still needs a convincing breakout to validate a continuation toward the 26,000 region.
Resistance Levels: 25,700.00, 27,970.00
Support Levels: 23,900.00, 22,500.00
USOIL, H4
USOIL continues to trade within a well-defined descending channel, reflecting a persistent short-term bearish trend. Price recently rejected the upper boundary of the channel once again, showing that sellers are actively defending this resistance zone. The horizontal level near $59 is also acting as a notable supply area, where repeated attempts to break higher have been capped. On the downside, the key support remains around $58, a level that has historically triggered multiple rebounds, as highlighted by the previous swing lows. A clean breakdown below this support could open the door toward the lower channel boundary and potentially deeper bearish continuation toward the $55 region.
RSI is hovering around the neutral zone near 50, suggesting lack of strong directional momentum, while MACD is showing weakening histogram bars with the signal lines flattening, indicating fading bullish pressure after the latest push up. Overall, as long as price respects the descending channel and fails to break above the upper trendline, the short-term outlook remains bearish-to-neutral, with the market likely to continue oscillating within the channel.
Resistance Levels: 61.90, 65.15
Support Levels: 58.00, 55.20
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