NAS100 NDX Technical Analysis :In today’s session, the Nasdaq 100 Index shows a clear upward movement, as the index traded in a range between the highest level recorded at 20704 and the lowest level at 20276. At the moment, the index is trading at a price of 20636, indicating stability in the upward trend within a narrow range, reflecting the strength of the positive momentum in the market.
NAS100 NDX Technical Analysis Technical Analysis:
- Trading above the moving averages:
The index price remains trading above the main moving averages, including the moving average, reflecting a long-term upward trend. This indicates that the general trend is still positive, as prices enjoy strong support from these averages.
Continuing trading above these levels reinforces the positive expectations in the short and medium term.
- MACD (Moving Average Convergence Divergence) Indicator:
The MACD indicator shows a strong positive signal, as the fast line (MACD) crossed above the signal line, reflecting increasing buying momentum and additional support for the upward trend. This signal indicates that the market is facing increasing buying pressure, which enhances the possibility of continuing the rise.
Forecast:
With trading continuing above the moving averages and positive technical analysis signals from the MACD indicator, the outlook indicates that the bullish trend may continue in the short term. We are likely to see more bullish momentum if the index manages to break the resistance level of 20704. In case of any decline, the support at 20276 may limit the correction and enhance the chances of returning to the upside.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 20693 | 20553 |
| Target Point 1 (TP1) | First resistance: 20765 | First support: 20500 |
| Target Point 2 (TP2) | Second resistance: 20810 | Second support: 20460 |
| Stop Loss (SL) | 20553 | 20693 |
The Nasdaq appears to be in a strong position today with positive momentum shown by technical analysis. Although there are some minor price fluctuations, technical indicators support an upward trend. Support and resistance levels should be closely monitored to ensure that trading decisions are based on accurate market analysis.
