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NASDAQ Technical Analysis 12 March 2018

2018-03-12 12:59 am | Resource: Technical Analysis | No Views : 132

Time frame Used - four hours
The NASDAQ 100 is moving in a bullish direction in the near term
The Purchasing power managed to control the movement of the NASDAQ 100 index to break the NASDAQ index level of weekly resistance to reach the level of 7100
And looking at the technical indicators
The RSI and the Stochastic are
indicating to the arrival of indicators into the overbought area
Accordingly, we expect that  the NASDAQ 100 will  test level of  7000 and then resume its rise again to target level of 7274
The alternative scenario is that the NASDAQ 100 drop down to level of  6938
  Resistance: 7274 - 7483 - 7561
Support: 7036 - 6938 - 6800
Direction: Up

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