NASDAQ100 Slumps Above Level 15506, Unable to Break Level 16400

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


Key Resistance Zones: 15000, 15500, 16000
Key Support Zones: 13500, 13000, 12500

NASDAQ 100 (NAS100) Long-term Trend: Bearish
NAS100 has fallen significantly in a downtrend but unable to break level 16400. The index is in a sideways move below level 16400 overhead resistance. On January 4, NAS100 faced rejection at the overhead resistance. The market declined sharply to the low above level 15506. Nonetheless, in previous price action, the index has fallen above the current support and resumed upward. Since November, NAS100 has been fluctuating between levels 15500 and 16400. Today, the index may find support above level 15500.

NASDAQ100 Slumps Above Level 15506, Unable to Break Level 16400
NAS100 – Daily Chart

Daily Chart Indicators Reading:
The index is at level 38 of the Relative Strength for period 14. NAS100 is in the downtrend zone and below the centerline 50. The price bars are below the 50-day SMA and the 21-day SMA indicating a downward move. The 50-day SMA and the 21-day SMA are sloping horizontally indicating a sideways trend.

NASDAQ 100 (NAS100) Medium-term Trend: Bearish
On the 4- hour chart, NAS100 is in a downward move. The index has reached the low of level 15506. Meanwhile, on January 5 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the index will fall but reverse at level 1.272 Fibonacci extension or level 15375.33.

NASDAQ100 Slumps Above Level 15506, Unable to Break Level 16400
NAS100 – 4 Hour Chart

4-hour Chart Indicators Reading
The index is below the 20% range of the daily stochastic. NAS 100 has fallen to the oversold region of the market. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.


General Outlook for NASDAQ 100 (NAS100)
NAS100 has been fluctuating above level 15500 but unable to break level 16400. The index has been range-bound between levels 15500 and 16400. It is expected to resume upward as it reaches the oversold region.


You can purchase crypto coins here: Buy Token


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

  • 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
$100 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
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • 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.