Nasdaq (NAS100) Price Continues in Tight Range

Market Analysis – March 22nd

Nasdaq (NAS100) price continues in a tight range due to less volatility. The Nasdaq price has been oscillating within a tight range, with the key levels of 18424.000 and 17758.000 acting as significant barriers. The bulls, who have been struggling this year, managed to gain dominance earlier at the price level of 16518.000.

However, their momentum has waned, and they are facing resistance below the 18424.000 level. On the other hand, the bears, who should have capitalized on this opportunity, have been relatively weak. They have been unable to break through the 17758.000 key zone.

Nasdaq Key Levels

Resistance Levels: 18424.000, 17758.000

Support Levels: 16510.000, 15766.000

Nasdaq (NAS100) Long Term Trend: Bullish

Instead of witnessing a breakout in either direction, the Nasdaq market has been consolidating within a narrow range. This consolidation has left investors uncertain about the future direction of the price.

Various market indicators, such as the Moving Average Convergence and Divergence (MACD), have not provided a clear-cut signal. The MACD still shows the potential for sellers to cause a reversal in the future. It therefore indicates that the bears may still have an advantage in pulling the price below the significant level of 17758.000.

For the buyers to regain control and overcome the price accumulation, a strong resurgence is required. The current struggle and lack of momentum below the key level of 18424.000 have silenced the buying strength. If the buyers manage to gather enough momentum, they can break through the resistance and push the price higher. Traders can gain valuable insights into the gold market by utilizing forex signals.

Nasdaq (NAS100) Short Term Trend: Bullish

On the short time frame, the price remains in a tight range, with both bulls and bears struggling to gain control. The market indicators are not providing a clear direction, leaving investors uncertain about the future movement of the price. However, the key levels of 18424.000 and 17758.000 continue to play a significant role in determining the market sentiment.

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