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      Nasdaq Composite Index Faces Resistance as Buyers Step In

      The Nasdaq Composite Index has encountered persistent resistance in the range of 26,676.31 to 26,856.24 since late spring, with multiple attempts to break above this ceiling failing to yield a sustained breakthrough. This week, the index dropped to its lowest level since July 31, falling below its 100-day moving average and reaching a low of approximately 25,802. However, buyers have since re-entered the market, pushing the index back above its 100-hour and 200-hour moving averages, which stand at 26,292.53 and 26,347.91, respectively.

      Despite this rebound, the index remains under the same resistance band that has thwarted previous rallies. For buyers to gain a stronger foothold, they must secure a position above 26,676.31, a level that has capped significant upward movements for several months. A successful breach of this level could pave the way toward the all-time high of 27,190.21. Conversely, sellers are poised to regain control if the index falls back below the moving averages, with key downside targets identified at 26,123.33 and 26,042.52.

      The repeated testing of the 26,676.31 to 26,856.24 range highlights its significance, as it indicates a consistent presence of sellers defending this price point. Should buyers manage to close above this level, it would signal a meaningful breakout, given the historical resistance it has presented.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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