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NASDAQ Technical Analysis 9 November 2018

2018-11-08 11:08 pm | Resource: Technical Analysis | No Views : 120

Time frame Used - four hours
The NASDAQ 100 is moving in a bullish direction in the near term
The purchasing power managed to control the movement of the NASDAQ 100 index to penetrate the level of 7130 to reach the level of 7210 where it faced selling pressure around this level to retreat to the support level of 7130
In view of the technical indicators
Both the RSI and Stochastic are indicating to decline of the indicators
Therefore, we expect that the NASDAQ 100 will fall back to level of  6903 again
The alternative scenario is that the NASDAQ 100 test level of  7353
  Resistance: 7210 - 7353 - 7437
Support: 6903 - 6690 - 6580
Direction: Up
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