NASDAQ 100 (NAS100) Resumes Upward Move, Breaks Resistance at Level 15000
Login

NASDAQ 100 (NAS100) Resumes Upward Move, Breaks Resistance at Level 15000

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

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

NASDAQ 100 (NAS100) Long-term Trend: Bullish
NAS100 has resumed an upward move as price breaks above the 21-day moving average. If the bulls break above the 50-day moving average, NASDAQ will be in the bullish trend zone. The index will rise to retest the previous highs of level 15600. Meanwhile, on October 7 uptrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that NAS100 is likely to rise to level 2.618 Fibonacci extensions or level 15977.37.

NAS100 -Daily Chart

Daily Chart Indicators Reading:
The index is at level 54 of the Relative Strength period 14. NAS100 is in the uptrend zone and has resume upside momentum. The price bars are below the 50-day SMA but above the 21-day SMA.

NASDAQ 100 (NAS100) Medium-term Trend: Bearish
On the 4- hour chart, NAS100 has resumed an upward move as price breaks the resistance at level 15000. NAS100 is rising to retest another resistance at 15400. Meanwhile, on October 7 uptrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that NAS100 is likely to rise to level 2.618 Fibonacci extension or level 15884.12.

NAS100 – 4 Hour Chart

4-hour Chart Indicators Reading
The index is above the 80% range of the daily stochastic. It indicates the market is in the overbought region. Since October 14, NAS100 has been trading in the overbought region of the market. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for NASDAQ 100 (NAS100)
NAS100 has resumed upward move as level 14400 support holds. The market will reach the uptrend zone if the bulls breach the 50-day moving average. Meanwhile, the index will rise to level 2.618 Fibonacci extension or level 15884.12.

You can purchase crypto coins here: Buy Token

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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News