Nasdaq 100: Mixed Signals as Down Channel Reverses – 14 March 2023
14 Mar 2023
Nasdaq 100(Large) Technical Analysis: Weekly Chart
In the weekly charts, Nasdaq 100 was trading in a down channel. Nasdaq 100 is currently trading in the middle line area of Bollinger bands.
RSI is in the selling zone which indicates bearishness. MACD is currently above zero which indicates bullishness. The volume of buying is more.
Its immediate support is 11000.00 the resistance level is at 1250.00
Nasdaq 100 was traded in a down channel until there was a trend reversal.
Nasdaq 100(Large) Technical Analysis: Daily Chart
In the daily charts, Nasdaq 100 was trading in an up channel. Nasdaq 100 is currently trading below the line of Bollinger Bands and moving toward the middle line.
RSI is in the selling zone which indicates bearishness. MACD is currently above zero which indicates bullishness, The volume of buying is more.
Its immediate support is 12200.00 the resistance level is at 1280.00
Nasdaq 100 was traded in an up channel until there was a trend reversal.
How to Trade Nasdaq 100(Large) this Week:
Nasdaq 100 will follow the downtrend until its trend reversal. However, MACD is above zero and the buying volumes are higher than selling. Moreover, it broke the trend line of the weekly chart. So, if the probability of the price increase becomes higher you can go bullish on Nasdaq 100.