Nasdaq 100 has been once again rejected at key strong resistance at 15,265. The Index performed a higher close but RSI didn’t confirm that with a higher reading resulting in divergence i.e., a signal of a weakening of the uptrend.
Nasdaq 100 could be forming a Double Top pattern that is confirmed if a daily close below 14,687.
If that scenario plays out Nasdaq 100 could drop to support at around 13,982 as indicated by the vertical arrows.
However, a sell-off could be cut short at around 14,303.
However, the trend is still up and if Nasdaq 100 closes above 15,265 the uptrend is likely to be extended.