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NASDAQ Technical Analysis 15 May 2018

2018-05-15 05:39 am | Resource: Technical Analysis | No Views : 44

Time frame Used - four hours
The NASDAQ 100 is moving in a uptrend in the near-term
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 where it faced selling pressures that pushed it back down
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area and decline to downside
Therefore, we expect that the NASDAQ 100 will retreat in a corrective move down
 To level of 6768
 The alternative scenario is that the NASDAQ 100 breached   to level of 6974 to upside to target levels of 7058 - 7147
 Resistance: 6974 - 7058 - 7147
Support: 6927 - 6860 - 6765
Direction: Up
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