NASDAQ 100 Technical Analysis: Weekly Chart

NASDAQ 100 is trading above its previous downward channel.

It is trading below all SMAs: MA (5), MA (20), and MA (50).

The immediate support is 13,340 and the resistance level is at 14,360

NASDAQ 100 is trading above and outside its previous downward channel.

NASDAQ 100 Technical Analysis: Daily Chart

In the daily charts, NASDAQ 100 is trading in a downward channel.

It is trading below all SMAs: MA (5), MA (20), and MA (50).

The immediate support is 13,615 and the resistance level is at 13,925

NASDAQ 100 is trading in a downward channel until there is a trend reversal.

How to trade NASDAQ 100 this week:

NASDAQ 100 is trading above its previous downward channel and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 13650, TAKE PROFIT AT 12935 AND STOP LOSS AT 14200