NAS100 NDX Technical Analysis: Downward Trend

NAS100 NDX Technical Analysis : is trading today in a downward trend, as the index recorded the highest trading price so far at 20842 and the lowest price at 20599. Currently, the index is trading at 20624. Technical analysis indicates that the general trend of the index is still downward, with this being confirmed by the main technical indicators.

NAS100 NDX Technical Analysis :Technical Analysis

• Moving Averages: The index is trading below the main moving averages, which reinforces the continuation of the downward trend. Trading below these averages reflects a weakness in the upward momentum, and increases the possibility of continued negative pressure on the index in the near term.
• MACD Indicator: The MACD indicator is showing a negative trend, as the indicator lines are trading in the downward zone, reflecting the continued strength of selling pressure on the index. In light of this negative trend, the indicators do not show any signs of an imminent reversal of the trend, which reinforces expectations of a continued decline in the near future.

Future Outlook:

If the index continues to trade below the moving averages, the downtrend will remain dominant in the near term. The index is expected to continue to decline towards lower support levels such as 20500 or 20400. In case of any upward movements, the 20850 or 21000 levels may form important resistance areas for any rebound attempts.

Trading strategies levels on Buy/Sell level

The Nasdaq 100 remains in a bearish trend, with technical indicators pointing to continued negative momentum. With prices trading below the moving averages and the MACD in a negative direction, the index is likely to continue to decline towards lower support levels in the near term, with any signs of a trend change or a potential upward correction to watch out for.