NASDAQ 100 Index Wave Analysis 23 May 2024

– NASDAQ 100 Index reversed from round resistance level 19000.00

– Likely to fall to support level 18500.00

NASDAQ 100 Index today reversed down from the resistance area located between the round resistance level 19000.00 and the upper daily Bollinger Band.

The resistance level 19000.00 was strengthened by the resistance trendline of the daily up channel from the end of April.

Given the strength of the resistance level 19000.00 and the overbought daily Stochastic, NASDAQ 100 Index can be expected to fall further to the next support level 18500.00.