Nasdaq100 Continues to Show Positive Momentum

Azeez Mustapha


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Market Analysis – March 5th

Nasdaq100 (NAS100) continues to show positive momentum. The index has been displaying a strong positive trend, with buyers continuing to dominate the market. As we enter a new week, the buyers have managed to break through the key level of 18,000.000, indicating their determination and confidence in the market. The bulls are now setting their sights on a significant level of 18,300, which suggests that we may witness further buying activity in the coming days.

Nasdaq100 (NAS100) Key Levels

Resistance Levels: 18300.000, 17602.000

Support Levels: 17107.000, 16566.000

Nasdaq (NAS100) Continues to Show Positive Momentum

Nasdaq (NAS100) Long-Term Trend: Bullish

However, it is important to note that the market took a slow pace above the 17,602.000 price level last month. While the buyers were able to break through this level, they faced some resistance in pushing the market higher. The bullish momentum in February was not as strong as anticipated, leaving traders eager for more clarity and direction in the new month.

To gain a better understanding of where the market may be heading, many traders are relying on the best forex signals. These signals, provided by professionals in the field, offer valuable insights into potential market movements.

While the bullish momentum may be growing, it is important to remain cautious as sellers are also present in the market. The stochastic oscillator, a technical indicator used to identify overbought and oversold conditions, has been hovering in the oversold area for several weeks now. This suggests that a sell-off breakdown could occur at any time, potentially leading to a temporary pullback in prices.

Nasdaq Continues to Show Positive Momentum

Nasdaq100 (NAS100) Short-Term Trend: Bullish

As buyers continue to push the market forward, it is crucial to keep in mind that price fluctuations are a normal part of the market cycle. While the current momentum may be positive, there is always the possibility of a price correction or a temporary reversal.

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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.

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