The Nasdaq 100 #NDX closed with gains this Monday due to the gains of the technology, consumer goods, and consumer services sectors that gave a strong boost to the Nasdaq index.
The Nasdaq #NDX has 300 points left to reach its all-time high of 13904, and on the 4H charts, we note that it is reaching resistance levels.
A few points higher at 13650/60, strong weekly resistance is in place. We expect a downward correction below this zone.
In view of the fact that the Nasdaq 100 Index maintains a strong upward trend, we must expect a correction in the 13,499 and 13315 area. At this level, a technical rebound may occur, waiting for a continuation of the upward trend to 13900 in the medium term.
The eagle indicator shows that the Nasdaq #NDX is reaching overbought levels of 13,660. There might be a retracement.
Therefore, if the Nasdaq falls below 13600, we recommend selling with targets at 13,499 and 13,350. There is 21 SMA on the 4H charts and could find support in this area.
Support And Resistance Levels For April 06 - 07, 2021
Resistance (1) 13719
Resistance (2) 13795
Resistance (3) 13829
Support (1) 13519
Support (2) 13405
Support (3) 13188