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NASDAQ Technical Analysis 19 September 2018

2018-09-18 11:25 pm | Resource: Technical Analysis | No Views : 64

Time frame Used - four hours
The NASDAQ 100 is moving in a sideway direction in the near term
NASDAQ100 CHART
The bears were able to control the movement of the NASDAQ 100 index to drop back to the support level of  7402 again and then start to rebound higher to reach nearly the resistance level of  7538 where it faces some selling pressure around this level
In view of the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery
Accordingly, we expect that the NASDAQ 100 will  breach the 7538 level to test the 7595 - 7614 levels
The alternative scenario is that the NASDAQ 100 dropped to level of  7402 again
  Resistance: 7538 - 7614 - 7700
Support: 7402 - 7344 - 7308
Direction: sideway
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