Nvidia continues narrowing within this wedge on the daily chart, with the upper trendline resistance proving robust so far. After forming some intraday support around $117.73, this level will be today’s focus as a break below would then likely lead to a test of the support around $112.81. Pre-market price floats at around $121.95 a share, with the trendline resistance now around $126.25 from current positioning. However, a break above the trendline may not be enough to fuel further gains as markets are now awaiting Friday’s job report. As the US elections are now also around the corner, with policy uncertainty, Nvidia’s price could remain within the wedge until after the elections. For the near term, a move above August’s high of $131.24 would create greater confidence that the stock may rally into the back end of the year. The technical indicators add to the increased risk to reward based on their positioning. Even though the MACD is marginally bullish, looking at the beginning of September, it’s clear how quickly it can turn bearish. The RSI is also relatively flat, not indicating any clear direction.