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Market Analysis – September 12
Nasdaq 100 (NAS100) regains buying focus to extend higher. The stock market has recently regained its buying focus after a short decline in its price. The bulls have managed to maintain their course above the 100 SMA (Smooth Moving Average) throughout this year. This, therefore, indicates bullish market sentiment.
Nasdaq 100 (NAS100) Important Levels
Resistance Zones: 16019.00, 14544.00
Support Zones: 13538.00, 12421.00
Nasdaq 100 (NAS100) Long-Term Trend: Bullish
The market has seen a significant level of bullish liquidity, with the price surpassing the 14544.40 market level. This has provided enough momentum for the market to make serious advancements. However, the buyers have not yet been able to break through the significant level of 16019.30.
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After failing to breach this level, the sellers have positioned themselves back at the key level of 14544.40. However, the buyers are currently regaining their strength, and there is an influx of buyers in the market. We can therefore expect price liquidity to move forward.
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The Price Oscillator indicator shows the signal line above the 0.00 level. It suggests that there is still enough opportunity for buyers to push through. Additionally, the buyers are still maintaining their strength above the 100 SMA indicator.
Nasdaq 100 (NAS100) Short-Term Trend: Bullish
On the 4-hour chart, it is crucial for the buying momentum to increase for traders to regain their focus. As the intensity of the buy market grows, we can anticipate the key level of 16019.30 being breached. It could, however, lead to further bullish movement in the market.
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