NASDAQ 100 (NAS100) Buyers Defend Key Level Amidst Potential Selling Pressure

Market Analysis – August 7th

NASDAQ 100 (NAS100) buyers defend key levels amidst potential selling pressure. Buyers of the NASDAQ 100 (NAS100) index are currently on the defensive near the 15236.70 market level. As a result, they strive to hold off potential selling pressure. The sell traders have lost some volatility, which has driven the price lower. This has created an opportunity for buyers to defend the key level of 15236.70.

NASDAQ 100 (NAS100) Market Level

Resistance Levels: 15849.60, 15236.70
Support Levels: 1425.70, 12763.20

NASDAQ 100 (NAS100) Long-Term Trend: Bullish

At the beginning of this week, buyers showed resilience and were building up against sellers’ attempts. However, sellers may regain strength in due time to break lower in the market. The month of July has been characterized by a consolidation phase in the NASDAQ 100 (NAS100) market. It, however, follows a period where buyers exhausted their bullish strength. The outcome of this consolidation phase will likely influence the direction of the price.

Sellers are determined to change the price sentiment in the market. It can lead to a bearish trend in the NASDAQ 100 (NAS100). Currently, buyers are defending the 15236.70 market zone. However, it remains to be seen if their defense can withstand potential selling pressure. The MACD (Moving Average Convergence and Divergence) indicator is currently heading lower. This suggests a potential shift in favor of the bears. Traders closely monitoring the NASDAQ 100 (NAS100) market should watch the interplay between buyers and sellers. It is important to stay informed, analyze technical indicators, and adapt strategies accordingly.

NASDAQ 100 (NAS100) Short-Term Trend: Bullish

On the short-term 4-hour chart, sell traders are still showing determination as the Moving Average crossing indicator points south. This indicates they are gaining strength for the sellers.

You can purchase Lucky Block 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.