Best Opportunities, Vision and Technical Analysis for The NASDAQ100 16 April 2019
2019-04-16 09:10 am | Resource: Technical Analysis | No Views : 265
Time frame Used - four hours
The NASDAQ 100 is moving in a bullish direction in the near term.
Bulls managed to push the NASDAQ 100 index to hit 7640 the resistance level as we expected in the previous report as the NASDAQ 100 faced resistance around the upper boundary of the up channel to retreat again downwards.
In view of the technical indicators
Both the RSI and Stochastic are indicating to weakness of the indicators.
Therefore, we expect that the NASDAQ index will fall below 7602 level to target 7510 level, and this scenario fails in case of stabilize above level of 7602.
The alternative scenario is that the NASDAQ 100 test level of 7660.
Resistance: 7640 - 7660 - 7700
Support: 7602 - 7510 - 7422
Stocks and indices Analysis
Markets in the United States started a slight gain on Monday as investors looked ahead to the Fed's two-day monetary policy meeting, which begins tomorrow. Although policy changes are unlikely, investors will be looking for interest rate indicators in July or later this year. In trade, Commerce Secretary Wilber Ross said President Donald Trump was ready to define more Chinese products if the two countries did not reach an agreement,…
- European stock trading opened with slight gains early 07:53 am2019-06-17
- Asian stock markets mixed after Hong Kong leader apology 06:43 am2019-06-17
- US Stocks markets open lower as relations deteriorate 01:43 pm2019-06-14
- Shares in Europe opened lower after the oil tanker attacks 07:49 am2019-06-14
- Stocks in Asia and the Pacific fell amid tensions in the Middle East 01:02 am2019-06-14
- US stocks market open despite rising trade tensions 01:53 pm2019-06-13
- European stocks opened lower as traders focused on the Brexit 08:54 am2019-06-13
- Stocks in Asia are down with Trump's trend to impose more tariffs 07:14 am2019-06-13
- US stock markets open lower after consumer prices data 02:14 pm2019-06-12