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Bulls needs to step in Nasdaq as Large Bearish Pattern appears on Daily.

NASDAQ was up on Monday morning after testing the low level of 20362 in the last trading session as tech firms like Apple, Microsoft, Meta Platforms, Amazon and Alphabet scheduled to report this week. Investors also awaited key US economic data such as preliminary GDP, PCE price index and PMI reports.

Technically, This week is crucial for US100/Nasdaq as it is forming a Large Wedge which is bearish in nature. On daily basis, the closing is weaker than opening. Bulls needs to step in to negate this Wedge Pattern, otherwise we can see some Profit Booking in Nasdaq going ahead.
Supports seen at 19946 & 19926 whereas Resistance seen at 20614 & 20790.