Markets

Nasdaq 100 – Clear hurdle to be made out

After the reversal on Wednesday, the bulls returned to the Nasdaq-100® index yesterday. The intermediate high of 9,570 points turned out to be too big a hurdle for the bulls. The index consolidated in the second half of the trading session, but remained above the EMA50 hour.

For today’s trading, the focus is on the one hand on the resistance zone between 9,489 and 9,515 points. It will probably be difficult for buyers to get through there. If it succeeds, the technical hurdle at 9,570 points would come into play again. Only if the Nasdaq-100® Index can also overcome this hurdle, the upward trend would be confirmed and further trend targets at 9,636 and 9,737 points can be named.

However, no new high is favored for today’s trading, but the continuation of the consolidation initiated yesterday. Support at 9,354 points could again play a role here. The index should only start to move to the bottom once the support breaks at 9,296 points. Then gapclose at 9,157 points would be possible at least in the second attempt.

Nasdaq-100® in points on the hourly chart; 1 candle = 1 hour (log. Candle chart)

Viewing period: May 13, 2020 – May 28, 2020. Historical considerations are not reliable indicators of future developments. Source: Guidants

Nasdaq-100® in points per month; 1 candle = 1 month (log. Candle chart)

Period under review: May 1, 2015 – May 28, 2020 Historical considerations are not reliable indicators of future developments. Source: Guidants

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The Post Nasdaq 100 – Clear Hurdle first appeared on onemarket’s blog (HypoVereinsbank – UniCredit Bank AG).

Author: Bastian Galuschka

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