Nasdaq 100 Composite Index - Short to Medium term price chart analysis
The Index pulled back two consecutive trading sessions but bounced back at around 8745.70, a critical retracement level which prices reacted to on Friday's trading session.
The short to medium-term uptrend direction is still intact as indicated on the price channel in the 30 minutes price chart, and as long as prices remain within the price channel, we could see the Index head back up to retest 9046.70 and 9234.00.
The critical price points to keep an eye in next week's session are estimated at the following area:
Support - 8930.00, 8745.70, and 8588.00
Resistance - 9046.70, 9234.00, and 9406.00
The Index pulled back two consecutive trading sessions but bounced back at around 8745.70, a critical retracement level which prices reacted to on Friday's trading session.
The short to medium-term uptrend direction is still intact as indicated on the price channel in the 30 minutes price chart, and as long as prices remain within the price channel, we could see the Index head back up to retest 9046.70 and 9234.00.
The critical price points to keep an eye in next week's session are estimated at the following area:
Support - 8930.00, 8745.70, and 8588.00
Resistance - 9046.70, 9234.00, and 9406.00
Comment:
Nice run. It has reached the estimated target at 9046 and now trading at 9294 support level