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NASDAQ Technical Analysis 4 December 2018

2018-12-04 05:51 am | Resource: Technical Analysis | No Views : 191

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 6903 to reach the resistance level 7100, where this level represents an important resistance level to retreat down by selling pressure.
In view of the technical indicators
Both the RSI and Stochastic are indicating to decline of the indicators.
Accordingly, we expect that the NASDAQ100 to test levels of 6960-6903.
The alternative scenario is that the NASDAQ 100 retests level 7100.
  Resistance: 7100 - 7210 - 7348
Support: 6960 - 6903 – 6737
Direction: Up
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