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).