Global equity indices are rallying over 1% on the session following news that a US-brokered ceasefire between Israel and Iran is now in effect, bringing a temporary end to nearly two weeks of military conflict.
To recap, the Israel-Iran escalation began on Thursday, June 13, after the breakdown of US-Iran nuclear negotiations. In response, Israel launched preemptive strikes targeting Iranian nuclear infrastructure, aiming to prevent further development of a potential nuclear weapon.
The US subsequently stepped in to contain the situation, and Iran’s retaliation was largely symbolic—paving the way for the current ceasefire agreement.
Despite elevated geopolitical tensions, equity markets remained resilient. While initial corrections followed the outbreak of conflict, indices never strayed far from their record highs, providing ample trading opportunities amid heightened volatility.
What’s notable is the bears’ failure to trigger a deeper correction in Equities, which has fueled a strong reversal.
As of this writing, the Nasdaq just touched its all time-highs, reversing slightly from here.
Nasdaq 1H Chart as the Tech-Focused index touches its all-time highs
Nasdaq 100 CFD 1H Chart, June 24, 2025 – Source: TradingView
The Nasdaq is in a bullish frenzy in the past 24 hours and now trading less than 10 points from its 22,241 All-time highs, attained in February 2025 right before the majors Trump Correction.
One hurdle is the current overbought RSI on most short-term timeframes, however the strong momentum should take the prices to at least current all-time highs.
Levels to watch as markets are racing:
Resistance Zones
- ATH Resistance Zone +/- 20 points around 22,241
- Fibonacci Extension potential Resistance Zone 22,450
Support Zones
- 22,050 Immediate Pivot
- 21,900 Resistance turned support
- 21,500 Main Support (War lows 21,455)
What about other Global Indices?
Let’s see where are other indices around the globe –
North American Indices:
- S&P 500 – 6,102 (0.75% from ATH: 6,152) + 1.16% on the session
- Dow Jones – 43,130 (4,20% from ATH: 45,097) +1.13%
- Canada’s TSX – 26,760 (new ATH) +0.56%
Europe Indices:
- German DAX – 23,712 (3% from ATH: 24,491) + 1.16%
- EuroStoxx – 5,310 (4.56% from ATH: 5,568) +1.14%
- France CAC 40 – 7,616 (7.60% from ATH: 8,257) +1.06%
Safe Trades!
