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Best Opportunities, Vision and Technical Analysis for The NASDAQ100 1 February 2019

2019-02-01 01:15 pm | Resource: Technical Analysis | No Views : 211

Time frame Used - four hours
The NASDAQ 100 is moving in a bullish direction in the near term.
The Nasdaq 100 broke the 6820 level to upside as the NASDAQ 100 reached the 6948 level, but we also note that the NASDAQ 100 is also suffering from weakness in the momentum despite breaking above the resistance level of 6820 to the upside likely the Dow Jones.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to lower indicators below the overbought area.
Therefore, we expect that the NASDAQ 100 will test level of  6820 again, and this scenario fails in case of stability above level of  6948.
The alternative scenario is that the NASDAQ 100 tested level of  7054.
 Resistance: 6948 - 7050 - 7128
Support: 6820 - 6595 - 6500
Direction: Up
 Technical Analysis
Stocks and indices Analysis
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