Categories: Technical analysis

Nasdaq 100 Wave Analysis – 29 December, 2022

• Nasdaq 100 reversed from support level 10650.00

• Likely to rise to resistance level 12000

Nasdaq 100 index recently reversed up from the major support level 10650.00 (which has been repeatedly reversing the price from the middle of 2020).

The upward reversal from the support level 10650.00 stopped the previous intermediate impulse wave (3).

Given the clear bullish divergence on the weekly Stochastic indicator, Nasdaq 100 can be expected to rise further toward the next resistance level 12000.00.

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

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