• Nasdaq-100 reversed from support level 16000.00
• Likely to rise to resistance level 16400.00
Nasdaq-100 index recently reversed up from the round support level 16000.00 (which has been reversing the price from the start of November August), intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from October.
The upward reversal from the support level 16000.00 stopped the previous intermediate ABC correction (2).
Given the clear daily uptrend, Nasdaq-100 index can be expected to rise further toward the next resistance level 16400.00 (top of wave 3 from the start of this month).
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