A correction is indicated for the Nasdaq 100 in the short term.
Technical Analysis of the US Nasdaq 100:
The US Nasdaq 100 may now face a short-term downward correction according to the technical picture for the index.
The Nasdaq 100 is in an uptrend, and was recently near resistance up against the upper trend line in this uptrend.
Both the RSI and Stochastic's momentum indicators now signal that the Nasdaq 100 may face a correction in the very short picture within the rising trend.
First support levels are around 18,900 points and then around 18,500 points (which also coincides with the support level around the lower trend line of the uptrend).
The MACD momentum indicator has also triggered a sell signal for the Nasdaq 100 index a couple of days ago.
There have also been two bearish candles in the daily candlestick recently, which also indicate that a short-term correction may well come.
The overall technical picture for the Nasdaq 100 is positive in the medium term, and within the rising trend, but in the very short picture (1-3 weeks) a correction down to around 18,500 - 18,900 points is signalled.
The US Nasdaq 100 may now face a short-term downward correction according to the technical picture for the index.
The Nasdaq 100 is in an uptrend, and was recently near resistance up against the upper trend line in this uptrend.
Both the RSI and Stochastic's momentum indicators now signal that the Nasdaq 100 may face a correction in the very short picture within the rising trend.
First support levels are around 18,900 points and then around 18,500 points (which also coincides with the support level around the lower trend line of the uptrend).
The MACD momentum indicator has also triggered a sell signal for the Nasdaq 100 index a couple of days ago.
There have also been two bearish candles in the daily candlestick recently, which also indicate that a short-term correction may well come.
The overall technical picture for the Nasdaq 100 is positive in the medium term, and within the rising trend, but in the very short picture (1-3 weeks) a correction down to around 18,500 - 18,900 points is signalled.
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