Nasdaq-100 Index Wave Analysis
Nasdaq-100 index reversed from support level 16170.00
Likely to rise to resistance level 16930.00
Nasdaq-100 index recently reversed up from the pivotal support level 16170.00 (former double top from the end of November) intersecting with the 38.2% Fibonacci correction of the upward impulse from November.
The upward reversal from the support level 16170.00 stopped the previous short-term correction 2.
Given the predominant daily uptrend, Nasdaq-100 index can be expected to rise further to the next resistance level 16930.00 (previous monthly top from December).
Likely to rise to resistance level 16930.00
Nasdaq-100 index recently reversed up from the pivotal support level 16170.00 (former double top from the end of November) intersecting with the 38.2% Fibonacci correction of the upward impulse from November.
The upward reversal from the support level 16170.00 stopped the previous short-term correction 2.
Given the predominant daily uptrend, Nasdaq-100 index can be expected to rise further to the next resistance level 16930.00 (previous monthly top from December).
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.