Best Opportunities, Vision and Technical Analysis for The NASDAQ100 16 April 2019
2019-04-16 09:10 am | Resource: Technical Analysis | No Views : 557
Time frame Used - four hours
The NASDAQ 100 is moving in a bullish direction in the near term.
Bulls managed to push the NASDAQ 100 index to hit 7640 the resistance level as we expected in the previous report as the NASDAQ 100 faced resistance around the upper boundary of the up channel to retreat again downwards.
In view of the technical indicators
Both the RSI and Stochastic are indicating to weakness of the indicators.
Therefore, we expect that the NASDAQ index will fall below 7602 level to target 7510 level, and this scenario fails in case of stabilize above level of 7602.
The alternative scenario is that the NASDAQ 100 test level of 7660.
Resistance: 7640 - 7660 - 7700
Support: 7602 - 7510 - 7422
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