Nasdaq-100 index Wave Analysis 26 March 2024

– Nasdaq-100 index reversed from resistance level 18400.00

– Likely to fall to support level 18000.00

Nasdaq-100 index recently reversed down from the key resistance level 18400.00 (strengthened by the upper daily Bollinger Band), which has been reversing the index from the start of March.

The downward reversal from the resistance level 18400.00 started the active minor correction (b).

Given the strength of the resistance level 18400.00 and the bearish divergence on the daily Stochastic, Nasdaq-100 index can be expected to fall further to the next round support level 18000.00.