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NASDAQ Daily Technical Analysis | 9 February 2018

2018-02-09 11:57 am | Resource: Technical Analysis | No Views : 64

Time frame Used - four hours
The NASDAQ 100 is moving in a sideway in the near-term
The NASDAQ100  ended Today's session is on the decline as the sell-off managed to control the movement of the index as the index faced resistance and selling pressure around the 6715 level, retreated by selling pressure to reach 6285, trying to consolidate above this level
And looking at the technical indicators
The RSI and Stochastic are indicating signs of recovery
Therefore we expect the index to test 6392 and 6489 levels
The alternative scenario is the further decline of the index to 6200
 Resistance: 6392 - 6489 - 6617
Support: 6285-6200-6036
Direction: sideway
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