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NASDAQ Technical Analysis 9 October 2018

2018-10-08 11:15 pm | Resource: Technical Analysis | No Views : 223

Time frame Used - four hours
The NASDAQ 100 is moving in a sideway direction in the near term
The Nasdaq is facing 100 sell-off pressures pushing it back to level of  7324
In view of the technical indicators
Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area
Accordingly, we expect that the NASDAQ 100 will test level  7385 again as long as it trades above level of  7300
The alternative scenario is that the NASDAQ 100 is retreating to level of  7157
  Resistance: 7385 - 7593 - 7688
Support: 7306 - 7157 - 6963
Direction: sideway
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