NASDAQ Technical Analysis 7 january 2019
2019-01-07 11:08 am | Resource: Technical Analysis | No Views : 69
The NASDAQ 100 is moving in a sideway direction in the near term.
The NASDAQ 100 is still facing resistance and selling pressure around the 6484 level forming a negative candlesticks pattern.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Therefore, we expect that the NASDAQ 100 will retreat to levels of 6143 - 6030 again, and this scenario fails in case of NASDAQ100 is breaching level of 6484 to upside.
The alternative scenario is that the NASDAQ 100 index breach 6484 to upside to target the level of 6852 again.
Resistance: 6484 - 6586 - 6852
Support: 6143 - 6030 - 5800
Stocks and indices Analysis
Wall Street opened in the Green Zone on Friday with the Dow opening more than 150 points. Investment incentives remained higher after reports emerged that US Treasury Secretary Steve Menuchin might propose easing or eliminating tariffs on Chinese goods. The market watcher also absorbed the latest industrial production numbers released before the opening bell. At the same time, investors also focused on a series of corporate results from yesterday as…
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