NASDAQ100 (NAS100) Fluctuates between Levels 13000 and 14000, Faces Resistance at Level 13800

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

NASDAQ 100 (NAS100) Long-term Trend: Ranging
NAS100 is in an upward move. The index has been facing rejection at level 14000. The current upward move is facing resistance level 13800. In the previous price action, the bulls were resisted twice at the resistance of 14000. The index slumped to level 13000 and resumed an upward move. The index price has broken above the moving averages suggesting a further upward move.

Daily Chart Indicators Reading:
NAS100 has risen to level 55 of the Relative Strength Index period 14. It indicates that the index is in the uptrend zone and above the centerline 50. The 50-day SMA and the 21-day SMA are sloping horizontally indicating the sideways move. The index price is above the moving averages which indicates a further upward move.

NASDAQ 100 (NAS100) Medium-term Trend: Bullish
On the 4- hour chart, the index is in an upward move. Meanwhile, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the index will rise to level 1.618 Fibonacci extension or level 13959.03.

4-hour Chart Indicators Reading
The index is below the 80% range of the daily stochastic. It indicates that the index is in a bearish momentum. This is contrary to the price action as price is moving upward. 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 an upward move. The uptrend is facing resistance below level 13800. Since February, the market has been facing resistance at level 14000. The current uptrend will resume if the resistance is breached.


You can purchase crypto coins here: Buy Coins

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