MG Network

our website isOn Vacation

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Trading signal for NASDAQ-100 (#NDX) on October 15 - 18, 2021: Buy above 15,000 (4/8)

analytics61699abca9e4f.jpg

The Nasdaq 100 technology index (#NDX) is trading higher, after having broken the 200 EMA. Now it faces the top of the downtrend channel formed in the 4-hour chart. This channel is projected from September 7 when the all-time high at 15,695 was recorded.

The upward movement of the Nasdaq-100 can be attributed to the good performance of stocks such as Paypal, NVIDIA, and Intel that on average have risen more than 2.7%. In general, the index reflects the optimism of the market.

The #NDX would be preparing for a sharp break above the bearish channel. Consolidation above the 200 EMA around the 15,000 psychological level is likely to accumulate more buyers.

According to the 4-hour chart, we can observe the formation of an inverted Head & Shoulders technical pattern. This pattern has been confirmed with the break of the neckline on October 13, so the outlook may be bullish in the short term. The quotes are likely to rise to the 6/8 Murray level at 15,625.

The main trend remains bearish. However, as long as it remains above the EMA 200 and 4/8 of Murray, located at 15,000, there is a probability of a new bullish scenario and it could go as high as 15,625. A break of 15,120 will confirm the bullish outlook.

The retracement zone for the Nasdaq is at the 200 EMA and the 21 SMA. It may lack the strength to break the top of the bearish channel, and could accumulate more buyers at 15,000 or 14,826. A technical bounce at these support levels will give us a good chance to buy.

The reading of the Eagle indicator is showing a sign of overbought conditions, as it is approaching the 90-95 level which represents an imminent correction. Therefore, it is likely that we should wait for a correction in the Nasdaq in the next few days and then it could resume its upward movement.

Support and Resistance Levels on October 15 - 18, 2021

Resistance (3) 15,354

Resistance (2) 15,265

Resistance (1) 15,164

----------------------------

Support (1) 14,965

Support (2) 14,864

Support (3) 14,721

***********************************************************

A trading tip for NASDAQ-100 on October 15 - 18, 2021

Buy above 15,000 or if there is a rebound at 14,826 (SMA 21) with take profit at 15,312 and 15,625 (6/8), and stop loss below 14,920.

The material has been provided by InstaForex Company - www.instaforex.com