NASDAQ 100 Trend Forecast - Week 18 Sep

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.

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The price has found support around 5930 mark. If it breaches this support it will move lower towards 5863 mark.

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