Technical Analysis of the Nasdaq Future – January 2025

The analysis of key levels for the Nasdaq future suggests that the low recorded on January 27, 2025, at 20,763 marks the beginning of a quarterly cycle. If this level holds, it could trigger a sequence of positive daily bars, confirming the bullish structure. However, there are two additional key levels to monitor in order to validate the strength of this trend.

Key Levels to Watch

Primary Support – 20,763
This level represents the cyclical low of the new quarterly cycle.
Holding this level is crucial for maintaining the bullish setup.

Intermediate Support – 20,980 (former structural resistance)
This level corresponds to the structural high of July 11, 2024, and July 24, 2024.
It was a significant resistance in 2024 and now acts as a strategic support.
Holding above this level would confirm that the 2025 market remains above 2024 levels.
50-Period Exponential Moving Average (EMA 50) – 21,346

This dynamic technical level serves as the first warning signal of weakness if breached.
A drop below this level could introduce bearish pressure, jeopardizing the bullish setup.

Operational Conclusions
Maintain a bullish bias as long as the price remains above 20,763.
21,346 (EMA 50) is the first warning level: a break below it could indicate weakening momentum.
20,980 is the key support to confirm that the market is consolidating above the 2024 highs.
The overall outlook remains positive, with a confirmed bullish structure as long as these levels hold. A potential break below 20,763 would compromise the quarterly cycle structure and require a reassessment of the technical scenario.