Nasdaq 100 Price Action May Extend Last Week’s Upside Move

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors



Price activities in the Nasdaq 100 market stayed mostly bullish during the past week. At this point, it appears as if price action may continue to move upwards, considering signs coming from trading indicators. So, let’s zoom in to get a closer look.

Major Price Levels:
Top Levels: $11,541.50, $11,600, $11,600
Floor Levels: $11,500, $11,450, $11, 400

Nasdaq 100 Price Action May Extend Last Week’s Upside Move

Price Action in the Nasdaq 100 Market Breaks the Fib 78.60 Resistance

Price action in the Nasdaq 100 market has poked through the Fibonacci resistance level of 78.60 at $11,463. And, on a more positive note, price action has also broken the $11,500 mark. At this point, price candles from about five trading sessions ago have been forming above the 9-day MA curve. At the same time, the Stochastic RSI curves have reached the peak of the overbought region, and both the leading and lagging lines are now flat out in the overbought area. It looks like the lines of the RSI may remain flat in the overbought area; this opinion comes from the signs on the MACD. The MACD’s curves can be seen rising vigorously upward following a crossover. Therefore, this current price move seems strong, and traders may still benefit from it.

The Nasdaq 100 Market Remains Optimistic About a Continuous Price Increase

Even on the 4-hour market, price action continues to show upside promise. Price candles are still above the MA line, with the last price candle here pushing the price level higher and away from the MA line. Also, the Stochastic RSI curves remain flat in the overbought area. Likewise, the curves of the MACD indicator have risen above the equilibrium line and may still rise further. However, traders should take note of the histogram bars of the MACD, as they are now looking pale green. Consequently, traders should wisely prepare a good risk management plan as they place trades with the expectation that the price may rise to $11,750.

Do you want to take your trading to the next level? Join the best platform for that here.

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