FX.co ★ Technical Analysis of Intraday Price Movement of Nasdaq Index, Thursday October 03, 2024.

From what we see on the 4-hour chart of the Nasdaq 100 index, there appears to be a deviation between the price movement of the index and the Stochastic Oscillator indicator which is also confirmed by the appearance of a Bearish 123 pattern followed by 2 Bearish Ross Hook (RH) and its price movement moving below the EMA 21 which also has a decreasing slope so that based on these facts in the near future #NDX has the potential to weaken down where the level of 19612.5 will be tested in the near future as long as it does not strengthen again to break and close above the level of 20317.7 then #NDX has the potential to weaken down to the level of 19270.4 and has the potential to continue its weakening to the level of 18525.2 if the momentum and volatility support it.

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