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Best Opportunities, Vision and Technical Analysis for The NASDAQ100 16 April 2019

2019-04-16 09:10 am | Resource: Technical Analysis | No Views : 557

We offer you the analysis of the NASDAQ 100 index on Tuesday , April 16, 2019 with the most important forecasts for the NASDAQ 100 index in the US market.
Time frame Used - four hours
The NASDAQ 100 is moving in a bullish direction in the near term.
NASDAQ100 CHART
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
Direction: Up
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