Best Opportunities, Vision and Technical Analysis for The NASDAQ100 17 April 2019
2019-04-16 11:20 pm | Resource: Technical Analysis | No Views : 603
Time frame Used - four hours
The NASDAQ 100 is moving in a bullish direction in the near term.
The Nasdaq 100 is still facing resistance and selling pressure around 7670 levels, forming a negative candlestick pattern as the indices of technology companies ended trading's today on retreating due to the decline in business results.
In view of the technical indicators
Both the RSI and the Stochastic are pointing to the arrival of indicators in the buy-back area.
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
Stocks and indices Analysis
US markets opened in the red on Tuesday as trade tensions between the United States and China continue to weigh on markets. US Secretary of State Mike Pompeo urged China to protect freedom of expression for Hong Kong citizens after Vice President Mike Pence said earlier that Beijing's respect for the integrity of the autonomous region and laws were a condition for any trade deal. In other news, analysts predicted…
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