NAS100 Is In A Downtrend As It Is Unable To Sustain Above 12100

Updated:

Key Resistance Zones: 16000, 16500, 17000
Key Support Zones: 13500, 13000, 12500

NASDAQ 100 (NAS100) Long-term Trend: Bearish
NAS100 is in a downtrend as it is unable to sustain above 12100. The index price is making a series of lower highs and lower lows. On June 16, NAS100 made a lower low of 11030 and a lower high of 12112. Presently, the index is facing rejection at a lower high. The downtrend will resume if price breaks below the previous lower low.

NAS100 Is In A Downtrend As It Is Unable To Sustain Above 12100
NAS100- Daily Chart

Daily Chart Indicators Reading:
The index is at level 43 of the Relative Strength for period 14. It is trading in the downtrend zone and capable of further decline. The moving averages are sloping downward indicating the downtrend. The index price bars are below the 21-day line SMA and the 50-day line SMA which indicates a further decline

NASDAQ 100 (NAS100) Medium-term Trend: Bullish
On the 1-hour chart, the NAS100 is in a sideways move. The index is fluctuating between 11380 and 11600 price levels. The price action is characterized by small body indecisive candlesticks called Doji. These candlesticks are indicating that buyers and sellers are undecided about the next move.

NAS100 Is In A Downtrend As It Is Unable To Sustain Above 12100
NAS100 – 1 Hour Chart

1-hour Chart Indicators Reading
NAS100 is above the 40% range of the daily stochastic. The 21-day line and 50-day line SMAs are sloping upward. The index is resuming an upward move but the uptrend is facing resistance at level 11600.

General Outlook for NASDAQ 100 (NAS100)
NAS100 is in a downtrend as it is unable to sustain above 12100. The index upward move is facing rejection at level 11600.

You can purchase crypto coins here: Buy LBlock



Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.