Nasdaq 100 Index Analysis – Rapid Rise and Critical Resistance

After a decline that lasted for several sessions, the Nasdaq 100 Index has staged a strong recovery, breaking through previous support areas and currently trading near important technical resistance levels. With this upward acceleration driven by buying momentum, traders are increasingly curious about whether this rebound is temporary or the beginning of a structural trend change.

A Look at Price Action

• Current Price: 18,783.91
• Nearest Resistance: 18,909.97
• Nearest Support: 18,584.61
• Nearest Trend: Strongly Upward
• Overall Trend: Downward, with a short-term technical reversal signal

The index has successfully broken through 18,454, a previous support area, and is now approaching technical resistance at 18,909, making these levels crucial for determining the next direction.

Technical Analysis

Technical Indicators:

• MACD: A clear positive crossover supports the continuation of the upward momentum.
• Stochastic: In the overbought zone, which may signal a temporary pause or the beginning of a slight correction before continuing the rise.

Expected Scenarios for Today

Positive Scenario (Continued Rise):

• If 18,909 is consistently breached, the index may target 19,102, with the possibility of extending the rise to 19,300 if the momentum continues.

Negative Scenario (Limited Correction):

• If the price fails to break 18,909, with the Stochastic indicator beginning to decline, the index may witness a correction towards 18,584, and possibly 18,454 for a retest.

Trading strategies levels on Buy/Sell level

The Nasdaq 100 is showing decisive positive technical signals, but it is approaching strong resistance that could temporarily limit the upward trend. A break above 18,909 would be a strong signal that the uptrend has resumed, while any decline to 18,454 would be considered a repositioning before a renewed push.