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NASDAQ Technical Analysis 16 April 2018

2018-04-15 10:00 pm | Resource: Technical Analysis | No Views : 121

Time frame Used - four hours
The NASDAQ 100 is moving in a sideway in the  near-term
The purchasing power managed to control the movement of the NASDAQ 100 index to break the NASDAQ index level of 6640 to reach the resistance level 6709 where the index faces resistance and selling pressure around this level to retreat to the level of support 6640 forming a  positive candlesticks  pattern
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 level of  6709 again to target level of  6887
 The alternative scenario is that the NASDAQ 100 will fall back  to level of  6488
 Resistance: 6709 - 6795 - 6878
Support: 6640 - 6488 - 6402
Direction: sideway
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