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Best Opportunities, Vision and Technical Analysis for The NASDAQ100 11 February 2019

2019-02-10 10:18 pm | Resource: Technical Analysis | No Views : 90

Time frame Used - four hours
The NASDAQ 100 is moving in a sideway direction in the near term.
The purchasing power managed to control the movement of the NASDAQ 100 index to push the NASDAQ index from the rebound back to the upside to close at the end of trading last week around the levels of 6900.
In view of the technical indicators
Both the RSI and Stochastic are indicating signs of recovery.
Therefore, we expect that the NASDAQ 100 will retest level of 6955 again, and this scenario fails in the case of instability above level of  6820.
The alternative scenario is that the NASDAQ 100 index is breaching level of 7054 higher to target levels 7227 - 7358.
  Resistance: 6955 - 7054 - 7227
Support: 6820 - 6595 - 6500
Direction: sideway
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