NAS100 Is in an Uptrend as It Challenges Level 12083

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

NASDAQ 100 (NAS100) Long-term Trend: Bullish
The NAS100 is trading in the bullish trend zone as it challenges level 12083. As it rose to the peak of level 12083, the index price crossed the moving average lines. At level 12000, penetration is challenging for buyers. If buyers succeed in breaking through the current resistance, the NAS100 will rise to level 12871. The index is above the moving average lines while fluctuating below the resistance level in the interim. However, if the index declines from the most recent high and breaches the moving average line, the selling pressure would pick up again.

NAS100 Is in an Uptrend as It Challenges Level 12083
NAS100 – Daily Chart

Daily Chart Indicators Reading:
On the Relative Strength Index for period 14, the NAS100 is at level 56. After a recent dip, the index is now trading in the bullish trend zone. Since the price bars are higher than the moving average lines, further index growth is anticipated. The 21-day and 50-day SMA lines’ downward slopes act as downtrend indicators.


NASDAQ 100 (NAS100) Medium-term Trend: Bullish
The NAS100 is in a downtrend on the 4-hour chart, but it has started to reverse higher again. The index surged to the area of the bullish trend, but it is now stalled at the 21-day line SMA. If NAS100 fails to break the recent high, it will be forced to trade in a range between the moving average lines.

NAS100 Is in an Uptrend as It Challenges Level 12083
NAS100 – 4 Hour Chart

4-hour Chart Indicators Reading
Over NAS100 level 30, the daily stochastic is higher. The 21-day line’s SMA may be breached due to the bullish momentum. An uptrend is shown by the moving average lines’ rising slope.

General Outlook for NASDAQ 100 (NAS100)
The NAS100 is attempting to continue an uptrend as it challenges level 12083. The resistance at level 12000 is a struggle for buyers. The index was repulsed on November 15 after reaching a high of level 12083. In preparation for a potential upward movement, NASDAQ is varying above the moving average lines.

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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.