NASDAQ 100 (NAS100) Retests Level 13200, May Further Decline

21 March 2021 | Updated: 21 March 2021

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

NASDAQ 100 (NAS100) Long-term Trend: Bullish
NAS100 index is in an uptrend but it is currently retracing. The index may further decline. On February 23 downtrend, a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that the NAS100 index will fall to level 1.618 Fibonacci extensions or level 12063.57.

NAS100 -Daily Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. NAS100 is at level 43 of the Relative Strength Index period 14. It is in the downtrend zone below the centerline 50.

NASDAQ 100 (NAS100) Medium-term Trend: Bearish
On the 1- hour chart, the index is in a downward move. On March 18 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the NAS100 index will fall to level 1.272 Fibonacci extensions. That is the low of level 12538.38.

NAS100 – 1 Hour Chart

1-hour Chart Indicators Reading
The market is below the 80% range of the daily stochastic. It indicates that the index is in a bearish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping downward indicating the downtrend.

General Outlook for NASDAQ 100 (NAS100)
NAS100 index has been falling after its rejection from the level 14000 resistance zone. At the lower time frame, the Fibonacci tool has indicated a possible reversal at level 1.272 or level 12538.38. The price has broken below the moving averages which indicate a further downward move.

You can purchase crypto coins here: Buy Coins



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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

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.