NASDAQ has been in a bullish sentiment since the last few weeks. The higher high and higher low transitioning has been fruitful in paving the bullish trend. With that, we are looking to buy the NAS at the support level, from where, we will have another good opportunity for the long position. The price at the support level is 11757.

There is no trendline indication on NAS100 in the given point in time.

The retracement level of 61.8% has been a level which is in confluence with the support level and has the capacity for the market to mark up making another bull leg upwards.

The EMA 50 is bullish and is curved upwards towards the market indicating the bullish momentum. We will continue buying the pair till the market rests at some point to take a retracement. 

RSI is at 62. It needs to fulfill the neutralized level at the 50 point in order for the market to align with other technical factors to continue moving up.

NASDAQ is bullish from 11757

Nov 16 2022