NASDAQ 100 Maintains Bullish Momentum Despite Bearish Indicators

Market Analysis – July 14

NASDAQ 100 continues its upward trajectory, defying signals of a possible bearish correction. Since establishing a major low in April 2025, the index has maintained a strong bullish momentum, highlighted by a clear break of structure above the 20,600 and 22,190 supply zones. This breakout confirmed a shift in market sentiment from bearish to bullish.

NASDAQ Key Levels

Demand Levels: 19000.00, 17450.00, 16200.00
Supply Levels: 20600.00, 22190.00, 23800.00

NASDAQ 100 Long-Term Trend: Bullish

Following the breakout above key supply levels, the price has been rising within a narrow ascending channel, indicating a measured and sustained bullish movement—unlike the previous phase of rapid price growth. At present, the index is testing the upper edge of the trendline channel, which may prompt a short-term bearish pullback.

Supporting this caution, the daily Relative Strength Index (RSI) reveals overbought conditions, suggesting the possibility of a retracement. Nevertheless, the overall price structure remains bullish, with no evidence of reversal. The daily Moving Average reinforces the uptrend, as the price stays well above the indicator line. Forex signals suggest traders should watch for a potential dip before further continuation.

NASDAQ 100 Short-Term Trend: Bullish

On the 4-hour chart, there is no indication of a bearish shift in structure, despite the overbought signals observed on the daily RSI. After reacting to trendline resistance, the price remains bullish, marked by a pattern of higher highs and higher lows. The 4-hour RSI also signals growing bullish momentum, supporting the ongoing uptrend in the short term.

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