NASDAQ 100 Trend Forecast - Week 18 Sep
Updated
NASDAQ 100 tested new highs touching 6000 mark twice in the past week, but failed to break the Fib resistance. RSI developed a bearish divergence trend suggesting another dip might be coming. Meanwhile CCI is sloping down and touched 70 mark, in previous sessions this followed with a correction when breached. A small correction towards 0.786 Fib support is not unlikely. The FED meeting outcome will determine if the index falls further or resumes the upward trend towards 6160 target.
Comment
The price has found support around 5930 mark. If it breaches this support it will move lower towards 5863 mark.Trade closed: target reached
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