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NASDAQ Technical Analysis 12 July 2018

2018-07-11 11:52 pm | Resource: Technical Analysis | No Views : 73

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 to penetrate the resistance level around the levels of 7100 - 7130 to reach the level of 7315 where the index faced resistance and resistance selling pressure to return to the level of 7255 forming of a peak  lower than the previous peak
In view of the technical indicators
Both the RSI and the Stochastic are indicating  to decline of the indicators
Accordingly, we expect that  the NASDAQ 100 will  test the 7201-130 levels
The alternative scenario is that  the NASDAQ 100 test levels of  7272 - 7315
  Resistance: 7272 - 7315 - 7333
Support: 7255 - 7201 - 7130
Direction: Up
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