NASDAQ 100 (NAS100) Retraces to Level 12757, May Resume the Uptrend

NASDAQ 100 (NAS100) Retraces to Level 12757, May Resume the Uptrend

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

NASDAQ 100 (NAS100) Long-term Trend: Bearish
NAS100 is in an uptrend. The index reaches the high of level 13885 and was repelled. It fell to level 12757 and resumed upward.

NAS100 – Daily Chart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. The index has risen to level 39 of the Relative Strength Index period 14. It indicates that it is in the uptrend zone above the centerline 50.

NASDAQ 100 (NAS100) Medium-term Trend: Bearish
On the 4- hour chart, the index is in a downward move. On February 23 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that NAS100 will fall to level 2.0 Fibonacci extensions. That is the low of 11591.53.

NAS100 – 4 Hour Chart

4-hour Chart Indicators Reading
The market is above the 40% range of the daily stochastic. It indicates that the index is in a bullish momentum. Meanwhile, the 50-day SMA and the 21-day SMA are sloping downward indicating the downtrend.

General Outlook for NASDAQ 100 (NAS100)
NAS100 is falling but the market has shown signs of bullish signals. The price is reversing at level 12750.



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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.