Market Analysis – April 3
NAS100 price continues to rise steadily. The Bulls have used the 11673.0 support level for a launch to break the resistance level of 11673.0. The market continues to ascend to higher resistance levels.
NAS 100 Key Levels
Supply Levels: 12883.0, 13678.0, 15000.0
Demand Levels: 11673.0, 10665.0, 10000.0
US100 Long-Term Trend: Bullish
US 100 is currently ascending to the liquidity pool of 13678.0. The market formed a high at the key level of 13678.0 in August. The Williams % R (William’s Percent Range ) had swerved above ‘-20’ which meant the market was already overbought. The Parabolic SAR (Stop and Reverse) indicator immediately signified the initiation of a bearish trend. Points formed above the daily candles show the price was beginning to decline.
The market experienced a pullback to 12883.0 before reaching the demand level of 10665.0. The buyers experienced difficulty launching from the demand level. A false breakout occurred multiple times above 11673.0. The third test of the demand level finally led to a successful break above 11673.0.
US 100 Short-Term Trend: Bullish
The market has formed a parallel channel. The Buyers have pushed above 12883.0. The Parabolic SAR (Stop and Reverse) signifies bullishness on the daily and 4-hour charts. The Williams Percent Range indicated an overbought market on the 24 hour and 4 hour charts. A pullback to the bullish order-block at 12883.0 is anticipated to foster a bullish displacement to 13678.0
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