NAS 100 Remains Trapped Below the 15175.30 Key Zone

Nasdaq Analysis – Buyers Struggle for a Breakthrough

NAS 100 remains trapped below the 15175.30 key zones as buyers struggle for dominance. The bulls have been on an impressive run since the start of the year, breaking through and retesting several order levels along the way. The bulls made a significant move when they were able to break through the 1.3663.50 level, which marked an important milestone in their upward trend.

However, upon reaching the 1.15175.30 key level, the buyers were met with resistance, and they have since been struggling to push forward. This has allowed the Nasdaq sellers to take control, and the price has now pulled back down to the 14849.50 market zone.

NAS 100 Significant Levels

Resistance Levels: 15175.30, 14237.00
Support Levels: 14849.50, 12842.40

US 100 Long-Term Trend: Bullish

At this point, traders are watching the 14849.50 key level closely to see how the market will react. If the buyers can regain control and break through this level, then the bulls can continue their upward trend. On the other hand, if the sellers can maintain their grip, then the price could continue to pull back.

In either case, traders need to be vigilant and keep an eye on market trends and technical indicators to make the best decisions. The RSI is overbought on the daily chart thereby creating an indication for more sell-outs in the market.

The Parabolic SAR (Stop and Reverse) indicator has lost bullish confidence on the daily chart. This could therefore imply more avenues for selling as buyers continue to struggle.

Nasdaq Short-Term Trend: Bearish

The bulls remain trapped below the 15175.30 market level. In the short term time frame, the sellers are making further approaches to breach lower. However, the US 100 still appears to be stuck in the battle of both traders. If buyers fail to push further, the price may break below the 14849.50 key level.

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