NAS100 Resumes Bearish Momentum and Faces Rejection at Level 12000

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


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

NASDAQ 100 (NAS100) Long-term Trend: Bearish
The NAS100 is currently trading in a bearish trend zone as it faces rejection at level 12000. After hitting resistance at the most recent high, the index is now falling. The drop will go all the way down to level 10800. The index is now fluctuating between the moving average lines. It will resume a sideways move for a few days due to the confinement it is currently experiencing. When the moving average lines are crossed, the NAS100 will trend.

NAS100 Resumes Bearish Momentum and Faces Rejection at Level 12000
NAS100- Daily Chart

Daily Chart Indicators Reading:
The NAS100 is at level 48 on the Relative Strength Index for period 14. It suggests that the index has entered a bearish trend zone and will continue to fall. A sideways move will continue because the price bars are situated between the moving average lines. The 21-day and 50-day SMA lines are sloping sideways indicating the trend.


NASDAQ 100 (NAS100) Medium-term Trend: Bearish
The 4-hour chart of the NAS100 shows a downward trend. It climbed as high as level 12100 before being dismissed. Bulls bought the dips as the index fell to a low of 11400. The index is once again under selling pressure, and the recent upward correction is encountering another rejection.

NAS100 Resumes Bearish Momentum and Faces Rejection at Level 12000
NAS100 – 4 Hour Chart

4-hour Chart Indicators Reading
NAS100 is experiencing a bearish momentum below the daily Stochastic threshold of 40. The trend is indicated by the sideways-sloping 50-day line SMA and the 21-day line SMA.

General Outlook for NASDAQ 100 (NAS100)
NAS100 is in a sideways trend as it faces rejection at level 12000. The index is limited between the moving average lines, which may cause the range-bound trend to last for days. When the moving average lines are broken, the NASDAQ will trend.


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
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

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
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 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.