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NASDAQ Technical Analysis 10 january 2019

2019-01-10 11:05 am | Resource: Technical Analysis | No Views : 108

Time frame Used - four hours
The NASDAQ 100 is moving in a bullish direction in the near term.
The Nasdaq 100 index has achieved the first bullish target around level of 6638 where the NASDAQ is facing selling pressures around this level as the NASDAQ index started the morning trading slightly lower so far, forming a negative candlestick pattern
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Accordingly, we expect that the NASDAQ 100 will drop to levels of  6361 - 6030 again, and this scenario fails in case of instability above level of 6638.
The alternative scenario is that the NASDAQ 100 breached level of 6638 higher to target the 6876 level.
 Resistance: 6600 - 6868 - 7096
Support: 6361 - 6030 - 5800
Direction: Up
 Technical Analysis
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