NAS100 NDX Technical Analysis: Bullish Trading

NAS100 NDX Technical Analysis: The Nasdaq 100 Index experienced a strong upward rebound in recent sessions after a sharp downward correction that pushed it to its lowest levels in more than two weeks. This recovery was driven by a decline in US bond yields and statements from some Federal Reserve officials that supported market optimism regarding future interest rate policy.

In addition, the improved performance of some major technology stocks contributed to the index’s rise, amid anticipation of US inflation data this week, which will have a direct impact on the Fed’s decisions and, consequently, the index’s performance.

NAS100 NDX Technical Analysis: Today’s Price Details

• Today’s High Price: 18,209.15
• Today’s Low Price: 18,073.54
• Current Price: 18,140.87

Technical Analysis

Using Moving Averages and MACD

General Trend:

• The short-term trend is gradually turning bullish after the positive break of the resistance level of 17,755.
• The moving averages have begun to cross positively, especially the EMA20 and EMA50, indicating the beginning of upward momentum.

Moving Averages:

• The current price is above the EMA20 and EMA50, indicating a continued recovery.
• The EMA100 and EMA200 continue to represent resistance areas at 18,358 – 18,560.
• A “dynamic support zone” has formed across the moving averages, supporting a continued upward trend in the near term.

MACD and Stochastic                              

• The MACD indicator is showing a clear positive crossover above the zero line, reinforcing the positive outlook.
• The Stochastic indicator is in the overbought zone, which may indicate a limited correction before continuing the upward trend.

Future Outlook and Recommendations

• Continued stability above 18358.79 will support a rise to 18660.38 and possibly to 18710.55.
• Recommendation: Monitor the H1 or H4 candle close above 18358 to confirm the continuation of the upward trend.

Trading strategies levels on Buy/Sell level

The Nasdaq 100 remains under strong selling pressure, supported by a close below its moving averages and negative MACD signals. However, the current weak momentum could open the door for a limited correction towards 19,689.87 before resuming the decline.