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NASDAQ Technical Analysis 3 December 2018

2018-12-02 11:23 pm | Resource: Technical Analysis | No Views : 120

Time frame Used - four hours
The NASDAQ 100 is moving in a sideway direction in the near term.
NASDAQ100 CHART
the Purchasing power managed to control the movement of the NASDAQ 100 index to break through the resistance level of 6903 to reach the resistance level of 7100, which 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 target levels of 7210 - 7348.
The alternative scenario is that the NASDAQ 100 retreat to levels of 6960-6903.
  Resistance: 7100 - 7210 - 7348
Support: 6960 - 6903 – 6737
Direction: Up
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