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NASDAQ Technical Analysis 30 November 2018

2018-11-30 07:46 am | Resource: Technical Analysis | No Views : 110

Time frame Used - four hours
The NASDAQ 100 is moving in a sideway direction in the near term.
ThePurchasing power managed to control the movement of the NASDAQ 100 index to breach the resistance level 6644 to reach the level of 6903 where it faces selling pressure around this level, where this level represents an important resistance level.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Accordingly, we expect that the NASDAQ 100 will decline to levels of 6700 - 6644.
The alternative scenario is that the NASDAQ 100 breach level of 6903 to upside to test levels of 7000 - 7100.
  Resistance: 6903 - 7000 - 7100
Support: 6700 - 6644 - 6434
Direction: Up
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