NVDAX: Bullish spike toward $241The Macro Picture 🗺️
NVDAX has spent the last quarter carving a clean macro uptrend, printing its structural peak at $241 in mid-May before a controlled pullback that never threatened the broader trend. The reclaim of the prior range high at $202 turned that level from ceiling to floor, and price has since built a higher base above it. After basing through late May, the latest impulse leg has lifted price back into the upper third of the range. The path of least resistance keeps pointing toward the $241 macro ceiling — the one structural level this rally still needs to test.
The Setup ⚙️
The Support Flip: The recent impulse leg has reclaimed the $227 local high, and as indicated by the white projection, price is now set to retest that level from above as fresh support. A broken resistance flipping to support is the engine of any trend continuation, and the bulls are defending this zone to keep the structure intact.
The Trigger: Holding $227 on the retest is the confirmation the chart is waiting for. RSI has curled back up off its mid-line with clear room to run before the overbought band, signalling momentum is rebuilding rather than exhausting — exactly the backdrop a continuation leg needs.
The Roadmap: Primary target sits at $241 — the macro resistance and structural peak, a high-confluence zone where buy stops cluster above the May high and trapped breakout sellers get squeezed on the way through. Invalidation: a sustained 1D close back below $227 would invalidate this bullish thesis and signal a rotation back toward the $202 prior break level.
Long
