Best Opportunities, Vision and Technical Analysis for The NASDAQ100 11 February 2019
2019-02-10 10:18 pm | Resource: Technical Analysis | No Views : 208
The NASDAQ 100 is moving in a sideway direction in the near term.
The purchasing power managed to control the movement of the NASDAQ 100 index to push the NASDAQ index from the rebound back to the upside to close at the end of trading last week around the levels of 6900.
In view of the technical indicators
Both the RSI and Stochastic are indicating signs of recovery.
Therefore, we expect that the NASDAQ 100 will retest level of 6955 again, and this scenario fails in the case of instability above level of 6820.
The alternative scenario is that the NASDAQ 100 index is breaching level of 7054 higher to target levels 7227 - 7358.
Resistance: 6955 - 7054 - 7227
Support: 6820 - 6595 - 6500
Stocks and indices Analysis
European markets started trading Wednesday in the red, led by the financial sector after US President Donald Trump failed to ease trade concerns. Speaking in New York, Trump renewed his threat to increase Chinese goods "tariff" significantly if there is no agreement. However, he said the United States and China were "close" to signing the first phase of the trade agreement. During his New York speech, Trump stressed that Beijing…
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