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NASDAQ Technical Analysis 6 November 2018

2018-11-05 11:01 pm | Resource: Technical Analysis | No Views : 123

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 index to break through the 6903 level to reach the 7135 level as it faces selling pressures around this level. To retreat to the support level of 6903
In view of the technical indicators
Both the RSI and the Stochastic are indicating improved performance
Accordingly, we expect that the NASDAQ100 target levels of  7135 – 7230 - 7353
The alternative scenario is that the NASDAQ 100 retreat to level of  6690
 Resistance: 7135 - 7230 - 7353
Support: 6903 - 6690 - 6580
Direction: Up
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