Categories: Technical analysis

Nasdaq-100 Wave Analysis – 7 December, 2021

• Nasdaq-100 reversed from support level 15700.00

• Likely to rise to resistance level 16400.00


Nasdaq-100 index recently reversed up from the support level 15700.00 (previous monthly high from September), intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse (1) from October.

The upward reversal from the support level 15700.0 started the active medium-term impulse wave (3).

Given the clear daily uptrend – Nasdaq-100 index can be expected to rise further toward the next resistance level 16400.00 (top of the previous correction B).

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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