Will take-profit force the Nasdaq 100 index lower
The Nasdaq 100 is short-term overbought. This doesn’t necessarily mean the index needs to decline, but the risk-to-reward ratio for new long positions is unfavourable at current prices. However, it would become favourable on a drop to the 18,835 to 19,163 range, with the lower range level being the short-term trend-defining level. Resistance levels are shown on the chart.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.