Categories: Technical analysis

NASDAQ 100 Wave Analysis 12 June 2024

  • NASDAQ 100 reversed from support level 19000.000
  • Likely to rise to resistance 20000.00

NASDAQ 100 Index recently reversed up from the support level 19000.000 (former resistance from the middle of May, acting as the support after it was broken previously).

The upward reversal from the support level 19000.000 continues the active short-term impulse wave 3 of the higher order impulse wave (3) from April.

Given the clear daily uptrend, NASDAQ 100 Index be expected to rise further to the next round resistance 20000.00, target price for the completion of the active impulse wave 3.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: Nasdaq 100

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