NASDAQ 100 (NAS100) Declines, Approaches the Previous Low at Level 14800

20 September 2021 | Updated: 20 September 2021

Key Resistance Zones: 15000, 15500, 16000
Key Support Zones: 13500, 13000, 12500

NASDAQ 100 (NAS100) Long-term Trend: Bullish
NAS100 index is in a downward move as buyers fail to sustain above level 15700. The index price broke below the moving averages signaling the resumption of selling pressure. If the selling pressure persists, the index will reach the low of level 14800. In the previous price action, the index price retested level 14800 support twice and resumed upward.

NAS100 – Daily Chart

Daily Chart Indicators Reading:
NAS100 is at level 37 of the Relative Strength period 14. It indicates that NAS100 is in the bearish trend zone and capable of falling on the downside. The 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend. The price bars are below the moving averages which suggests a further downward move.

NASDAQ 100 (NAS100) Medium-term Trend: Bullish
On the 4- hour chart, NAS100 is in a sideways move. The bulls failed to break above level 15700 resistance. Consequently, the market resumes a downward move. Meanwhile; on September 13 downtrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that NAS100 is likely to fall to level 2.0 Fibonacci extensions or level 15018.06.

NAS100- 4 Hour Chart

4-hour Chart Indicators Reading
The index has fallen below the 20% range of the daily stochastic. It indicates that the index has fallen to the oversold region. Also, the selling pressure is reaching bearish exhaustion. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.


General Outlook for NASDAQ 100 (NAS100)
NAS100 has resumed a downward move. The market is expected to reach the previous low at level 14800. However, according to the Fibonacci tool, NASDAQ 100 will reach level 2.0 Fibonacci extensions or level 15018.06.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.