Best Opportunities, Vision and Technical Analysis for The NASDAQ100 12 April 2019
2019-04-12 02:06 am | Resource: Technical Analysis | No Views : 50
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 the resistance level of 7602 as the NASDAQ 100 index, which measures US technology companies, closed yesterday's session below 7602 level as the index of technology companies is moving within down channel.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to weakness of the indicators.
Accordingly, we expect that the NASDAQ 100 will test 7636 level, and this scenario fails in the case of instability above level of 7583.
The alternative scenario is that the NASDAQ 100 is retreating to 7510 level .
Resistance: 7602 - 7636 - 7700
Support: 7583 - 7510 - 7422
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