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NASDAQ Technical Analysis 11 May 2018

2018-05-11 12:13 am | Resource: Technical Analysis | No Views : 85

Time frame Used - four hours
The NASDAQ 100 is moving in a uptrend in the near-term
NASDAQ100 CHART
the Purchasing power managed to control the movement of the NASDAQ 100 index to push the NASDAQ index to rebound higher to level of 6967
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area
Therefore, we expect that the NASDAQ 100 will target level of 6997 and  we recommend reducing open purchasing positions around this level
 The alternative scenario is that the NASDAQ 100 retreated to levels of 6860
 Resistance: 6997 - 7058 - 7147
Support: 6927 - 6860 - 6765
Direction: Up
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