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 faces rejection at level 12866 .The index corrected upward and broke above the 21-day line SMA but below the 50-day line SMA. NAS100 uptrend has reached bullish exhaustion as the market reached the high of level 12866. The index is likely to retrace to the downside. NAS100 will be compelled to a range-bound move between the moving averages lines if it retraces above the 21-day line SMA.
Daily Chart Indicators Reading:
The index is at level 53 of the Relative Strength for period 14. It is trading in the uptrend zone and may further rise. The 50-day SMA and the 21-day SMA are sloping downward indicating the downtrend. The 21-day line SMA is acting as a resistance level.
NASDAQ 100 (NAS100) Medium-term Trend: Bullish
On the 4-hour chart, the NAS100 is in an uptrend as price breaks above the moving averages. The index rallied to the high of level 12866 and was repelled. The market is declining to the downside. The uptrend is assumed terminated if price breaks below the moving averages or the trend line.
4-hour Chart Indicators Reading
NAS100 is above the 80% range of the daily stochastic. The index has reached the overbought region of the market. Sellers will emerge to push prices down. The selling pressure is likely to resume. The moving averages are sloping downward indicating the downtrend.
General Outlook for NASDAQ 100 (NAS100)
NAS100 is in an uptrend as it reaches the overbought region but faces rejection at level 12866 . The index is likely to fall to the previous low as sellers emerge in the overbought region.
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
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
