NAS100 Resumes Bearish Momentum and Faces Rejection at Level 12000

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.

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.

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.


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