NASDAQ 100 (NAS100) Struggles below Level 15000, Uptrend Likely

Azeez Mustapha
2 August 2021 | Updated: 2 August 2021

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

NASDAQ 100 (NAS100) Long-term Trend: Bullish
NAS100 is still in an uptrend. The index price broke the previous resistance at level 15000 but could not sustain the upward move. Today, buyers are pushing the index to the previous high. A break above level 15000 will push the index to the high of level 15600. Meanwhile; on July 26 uptrend a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that NAS100 is likely to rise to level 1.618 Fibonacci extensions or level 15536.08.

NAS100 – Daily Chart

Daily Chart Indicators Reading:
NAS100 is at level 61 of the Relative Strength period 14. It indicates that the market is in the bullish trend zone and capable of rising on the upside. The 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend.

NASDAQ 100 (NAS100) Medium-term Trend: Bullish
On the 4- hour chart, the index is in a sideways move below level 15000. On July 15, buyers have been struggling to break the resistance at level 15000. Meanwhile; on July 23 uptrend a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that NAS100 is likely to rise to level 2.0 Fibonacci extensions or level 15536.08.

NAS100 – 4 Hour Chart

4-hour Chart Indicators Reading
NASDAQ 100 is above the 70% range of the daily stochastic. The index is in a bullish momentum. The index is likely to rise. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for NASDAQ 100 (NAS100)
The NAS100 index is in a sideways move since July 23. NASDAQ 100 will resume an upward move if price breaks above level 15000. According to the Fibonacci tool, the market will reach level 15536.

You can purchase crypto coins here: Buy Tokens

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

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.