NAS100 (NAS100) Fluctuates Above Level 14000, Uptrend Likely

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RESULTS

Key Resistance Zones: 14000, 14100, 14200
Key Support Zones: 13400, 13300, 13200

NASDAQ 100 (NAS100) Long-term Trend: Ranging
NAS100 is in an upward move. Buyers have broken above the resistance above level 14,000. The upward move is currently facing resistance at level 14100. Meanwhile, on April 16 uptrend a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that NAS100 is likely to rise to level 1.618 Fibonacci extension or level 14955.35. From the price action, the market is approaching the high of level 14100.

Daily Chart Indicators Reading:
NAS100 has risen to level 61 of the RSI period 14. It implies that the index is in the uptrend zone and above the centerline 50. The 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend.

NASDAQ 100 (NAS100) Medium-term Trend: Bullish
On the 4- hour chart, the index is in an upward move. NAS100 is facing resistance at level 14100. The bulls were repelled twice as price fell to the low above level 13900. Today, the bulls have broken the resistance as the market resumes upward.

4-hour Chart Indicators Reading
NASDAQ 100 is above the 40% range of the daily stochastic. It indicates that the index is in a bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for NASDAQ 100 (NAS100)
The NAS100 index is in an upward move. The bulls are still facing resistance at level 14100 as the index resumes a downward move. According to the Fibonacci tool analysis, NAS100 will reach the high of level 14955.35.


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