Nasdaq 100 Analysis 03 November, 2020

• Nasdaq 100 reversed from support zone

• Likely to rise to 11500.00                                                                                      

Nasdaq 100 previously reversed up from the support zone located between the key round support level 11000.00 (former resistance level from July and support level from September) and the lower daily Bollinger Band.

This support zone was further strengthened by the 50% Fibonacci correction of the upward impulse from June.

Nasdaq 100 is likely to rise further in the active impulse waves 3 and (3) toward the next resistance level 11500.00.