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NASDAQ Technical Analysis 12 September 2018

2018-09-11 11:51 pm | Resource: Technical Analysis | No Views : 164

Time frame Used - four hours
The NASDAQ 100 is moving in a bearish direction in the near term
The bears were able to control the movement of the NASDAQ 100 to reach the support level of  7402 but it still faces resistance around the 7498 level
In view of the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery
Accordingly, we expect that the NASDAQ100 index will  breach to upside the 7498 level to target the 7614 level
The alternative scenario is that the NASDAQ 100 violate level of  7402 down to target the 7308 level
  Resistance: 7498 - 7614 - 7700
Support: 7402 - 7344 - 7308
Direction: Down
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