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

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RESULTS

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.

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.

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.

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