Stocks Trade Mixed

Nasdaq 100 Technical Analysis 20 September, 2021

• Nasdaq 100 reversed from resistance zone
• Likely to fall to support level 14800.00

Nasdaq 100 index under the bearish pressure after the index broke the support zone located at the intersection of the key support level 15200.00 (former resistance from the start of August) and the two upward sloping support trendlines from August and July respectively. The breakout of this support zone accelerated the active short-term impulse wave of the corrective wave 4 from the start of September.

Given the strongly bearish sentiment seen across the equity markets today, Nasdaq 100 index can be expected to fall further toward the next support level 14800.00 (which has been reversing the price from July, target for the completion of the active wave (i)).

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