NAS100 NDX Technical Analysis: The Nasdaq Index is trading in a downtrend today, as the index shows volatile trading, as it recorded its highest price during the session at 21285.30 and the lowest price at 21138.03, while it is currently trading at 21153.88. This volatility indicates increasing selling pressure on the index, reflecting weak buying momentum.
NAS100 NDX Technical Analysis: Technical Analysis
We notice that prices are trading below the levels of the basic moving averages, which supports the continuation of the downtrend in the short term. The MACD indicator also reflects negative signals, as it shows a decline in positive momentum and the appearance of a negative crossover between the moving averages of the index, which reinforces negative expectations and indicates the possibility of continued selling pressure.
Trading Outlook:
The downtrend is likely to continue if prices remain below the moving averages, with a possible test of support levels near 21100 and 21000. If these levels are broken, the decline may extend to lower levels. On the other hand, any improvement in the buying momentum requires a clear breakout of the resistance levels at 21280, which may reflect an improvement in the trend.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 21271.44 | 21106.54 |
| Target Point 1 (TP1) | First resistance: 21344.18 | First support: 21024.10 |
| Target Point 2 (TP2) | Second resistance: 21380.20 | Second support: 20070.55 |
| Stop Loss (SL) | 21106.54 | 21271.44 |
The market remains under bearish pressure with negative signals from technical indicators. Therefore, the overall trend remains bearish, and traders should follow support and resistance levels to identify suitable trading opportunities in the coming period.
