Nasdaq 100 (NAS100) Seeks Clarity Amidst Stagnation
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Nasdaq 100 (NAS100) Seeks Clarity Amidst Stagnation

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Azeez Mustapha

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Market Analysis – September 19

Nasdaq 100 (NAS100) seeks clarity amidst stagnation. The Nasdaq 100 index finds itself in a state of stagnation, lacking vigor. The price action has remained indecisive for a considerable period.

Nasdaq 100 (NAS100) Key Zones

Resistance Levels: 15657.20, 14696.30
Support Levels: 14191.00, 12820.00
Nasdaq 100 (NAS100) Seeks Clarity Amidst Stagnation

Nasdaq 100 (NAS100) Long-Term Trend: Bullish

The bulls have struggled to gather enough momentum to breach the formidable 15657.20 key level. While buyers initially exhibited strength, sell traders have proven to be a formidable force standing in their way. The market currently resembles a battleground, with both parties vying for dominance. The buyers aspire to surpass the 15657.20 market zone, while the sellers have their sights set on driving prices lower.
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As the current consolidation phase persists, the market appears poised for a significant move, awaiting the side that can muster an extra push to break the deadlock.
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It becomes evident that sellers are positioning themselves to break through the 15210.90 market level. Should this breakout occur, it may trigger a more pronounced bearish response. Despite the ongoing consolidation, sellers continue to exert a substantial influence on the daily chart. This suggests a prevailing bearish bias.
Nasdaq 100 (NAS100) Seeks Clarity Amidst Stagnation

Nasdaq 100 (NAS100) Short-Term Trend: Bearish

On the 4-hour chart, the bears maintain their resolve. This indicates a heightened likelihood of a breakout to the downside. The market remains on edge as traders anticipate the potential direction of the impending move. If sellers play their cards right, the price could reverse course. A bearish sentiment may play out for the Nasdaq 100.
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