In the New York pre-market, the Nasdaq 100 #NDX Technology Index is trading below the 6/8 of Murray and above the SMA of 21, showing a bullish signal. Although it is likely that there will be a downward correction in the next few hours.
#NDX has been moving within an uptrend channel for several days. The index is now facing strong resistance at 6/8. This level could subdue the rise of the Nasdaq and a correction below this zone could occur.
Since the uptrend still prevails, a good strategy is to wait for a technical bounce at the 21 SMA. Around 14,220, there is a good point to buy with targets at 14,420 and up to 7/8 murray at 14,687.
On the contrary, if the Nasdaq breaks the 21 SMA, another level of buying opportunity can be found in the lower line of the uptrend channel around 14,140 and 14,062 5/8 murray zone. These levels will be good points to watch for opening bullish positions.
If you want to sell within this correction, you can do it only if the Nasdaq #NDX makes a pullback to the upper line of the bullish channel at 14,420. Besides, you can wait for a consolidation below 6/8 of murray that will also be a good selling opportunity.
Our recommendation is to wait for both levels that we have indicated in the chart to be able to buy or sell. The eagle indicator is showing a bearish signal.
Support and Resistance Levels for June 25 - 28, 2021
Resistance (3) 14,589
Resistance (2) 14,502
Resistance (1) 14,428
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Support (1) 14,274
Support (2) 14,193
Support (3) 14,095
