Nasdaq 100 (NAS100) Buyers Struggle to Recapture Strength

Market Analysis – September 27

Nasdaq 100 (NAS100) buyers struggle to recapture strength. This struggle has manifested itself in several attempted reversals above the significant 14609.40 level, only to be met with strong resistance. Indeed, despite buying pressure, the tide seems to lean towards the strength of the sellers. This therefore suggests a potential downward movement in the market.

Nasdaq 100 Price Zones

Resistance Zones: 15645.60, 15208.60
Support Zones: 14609.40, 14218.30

Nasdaq 100 Long-Term Trend: Bearish

This notion can be further supplemented when interpreting the MACD (Moving Average Convergence Divergence). The MACD’s recent move to fall below the 0.00 level is a notable event for traders. Under typical conditions, when the MACD falls below this level, it generates a bearish signal. This implies that the selling force is now emerging. This signals a possible bear market or downtrend. It also suggests that it might be an optimal moment for traders to sell or short their positions.

The repeated inability of the market to cross the 15645.60 level is an important resistance previously tested in August. It also failed again in September, as it indicates a strong resistance zone.

Additional insights offered by the Price Oscillator lower below zero levels can further amplify the bearish sentiment. The Price Oscillator’s movement below the zero level indicates a deceleration in bullish momentum. It reinforces a lackadaisical buyer’s sentiment. This conveys that fewer traders are willing to buy at current price levels. It also potentially gives the sellers an upper hand, leading to a price downturn.

Nasdaq 100 Short-Term Trend: Bearish

A detailed observation of the 4-hour chart time frame shows that buyers are still hanging in the balance. They are still attempting to attract attention and rally the market upward. However, failure to gain strength could tip the scales in favor of a sell market, validating the intensified downward pressure.

 

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