Best Opportunities, Vision and Technical Analysis for The NASDAQ100 11 March 2019
2019-03-10 11:59 pm | Resource: Technical Analysis | No Views : 29
The NASDAQ 100 index dropped by the selling pressure after released the employment data as the bears managed to push the Nasdaq 100 index back to the support level of 6995 to bounce higher in a corrective up move as it faces resistance and selling pressure around the 7000 levels forming a negative candlesticks pattern.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to weakness of the indicators and confirmation of the downside movement.
Accordingly, we expect that the NASDAQ 100 will decline to levels of 6935 - 6890 - 6833, and this scenario fails in the case of stability above level of 7067.
The alternative scenario is that the NASDAQ 100 retest level of 7067 again.
Resistance: 7000 - 7067 - 7144
Support: 6935 - 6890 - 6833
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European markets posted modest gains in early trade on Monday after German banks confirmed they were in discussions on a possible merger. Meanwhile, investors are still focusing on Britain's exit from the EU, as the government in London is trying to rally support for its deal in Britain's exit from the European Union before the third vote on Tuesday. Yesterday, British Treasury Secretary Philip Hammond said there was still insufficient…
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