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Best Opportunities, Vision and Technical Analysis for The NASDAQ100 11 March 2019

2019-03-10 11:59 pm | Resource: Technical Analysis | No Views : 158

The NASDAQ 100 is moving in a bearish direction in the near term.
The NASDAQ 100 index dropped by the selling pressure after released  the employment data as the bears managed to push the Nasdaq 100 index back to the support level of 6995 to bounce higher in a corrective up move as it faces resistance and selling pressure around the 7000 levels forming a negative candlesticks pattern.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to weakness of the indicators and confirmation of the downside movement.
Accordingly, we expect that the NASDAQ 100 will decline to levels of  6935 - 6890 - 6833, and this scenario fails in the case of stability above level of  7067.
The alternative scenario is that the NASDAQ 100 retest level of  7067 again.
 Resistance: 7000 - 7067 - 7144
Support: 6935 - 6890 - 6833
Direction: Down
 Technical Analysis
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