NASDAQ 100 (NAS100) Continues Bullish Run, Battles Level 15700 Resistance

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RESULTS

Key Resistance Zones: 14000, 14100, 14200
Key Support Zones: 13400, 13300, 13200

NASDAQ 100 (NAS100) Long-term Trend: Bullish
NAS100 index has been rising consistently. Presently, the upward move is facing resistance at the recent high. The NASDAQ 100 rose to level 15700 and it was repelled. Meanwhile; on September 1 uptrend a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that NAS100 is likely to rise to level 1.272 Fibonacci extensions or level 15970.56.

Daily Chart Indicators Reading:
NAS100 is at level 58 of the Relative Strength period 14. It indicates that NAS100 is in the bullish trend zone and capable of rising on the upside. The 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend. The price bars are above the moving averages which suggest a further upward move.

NASDAQ 100 (NAS100) Medium-term Trend: Bullish
On the 4- hour chart, NAS100 is in a sideways move. Buyers could not push the index above the 15700 overhead resistance. On September 10, NAS100 was repelled as it dropped to level 15440. Meanwhile; on August 31 uptrend a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that NAS100 is likely to rise to level 1.618 Fibonacci extensions or level 15913.62.

4-hour Chart Indicators Reading
The index is above the 25% range of the daily stochastic. It indicates that the market is in a bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. The index is rising to retest the 15700 overhead resistances.

General Outlook for NASDAQ 100 (NAS100)
The index has resumed an upward move to retest the 15700 overhead resistances. NAS100 is likely to resume upward as the crypto’s price is above the moving averages. The uptrend is likely to resume if price breaks above the 15700 overhead resistance.

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