NASDAQ 100 (1W) Technical Analysis – March 12, 2025
Market Structure & Breakdown:
The NASDAQ 100 has broken down from a rising wedge pattern, a bearish signal.
This breakdown led to a sharp sell-off, pushing the price to 19,423.
The next key support zone is highlighted around 18,000 – 17,500 (purple box), where buyers might step in.
Volume & RSI Analysis:
The latest red weekly candle is accompanied by high volume, confirming strong selling pressure.
RSI (14) is at 40.45, nearing the oversold zone (30). If RSI reaches or bounces from this level, it could indicate a reversal or at least a short-term bounce.
Potential Trading Scenarios:
Bearish Continuation:
If selling pressure continues, NASDAQ 100 may test the 18,000 - 17,500 support zone.
If this area breaks, further downside toward 16,000 - 15,500 is possible.
Bullish Rebound:
If buyers defend the 18,000 – 17,500 zone, a bounce back toward 20,000 could occur.
A retest of the broken wedge support (now resistance) is likely before any strong bullish move.
Key Takeaway:
Short-term bias: Bearish
Long-term trend: Still bullish, but in a correction phase
Watch for: Price reaction at the 18,000 – 17,500 support zone and RSI nearing oversold
Market Structure & Breakdown:
The NASDAQ 100 has broken down from a rising wedge pattern, a bearish signal.
This breakdown led to a sharp sell-off, pushing the price to 19,423.
The next key support zone is highlighted around 18,000 – 17,500 (purple box), where buyers might step in.
Volume & RSI Analysis:
The latest red weekly candle is accompanied by high volume, confirming strong selling pressure.
RSI (14) is at 40.45, nearing the oversold zone (30). If RSI reaches or bounces from this level, it could indicate a reversal or at least a short-term bounce.
Potential Trading Scenarios:
Bearish Continuation:
If selling pressure continues, NASDAQ 100 may test the 18,000 - 17,500 support zone.
If this area breaks, further downside toward 16,000 - 15,500 is possible.
Bullish Rebound:
If buyers defend the 18,000 – 17,500 zone, a bounce back toward 20,000 could occur.
A retest of the broken wedge support (now resistance) is likely before any strong bullish move.
Key Takeaway:
Short-term bias: Bearish
Long-term trend: Still bullish, but in a correction phase
Watch for: Price reaction at the 18,000 – 17,500 support zone and RSI nearing oversold
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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.
Related publications
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.