Categories: Technical analysis

Nasdaq-100 Wave Analysis 8 October 2024

– Nasdaq-100 reversed from support zone

– Likely to rise to resistance level 20340.00

Nasdaq-100 index today reversed up from the support zone located between the pivotal support level 19680.00 (former top of wave b from the start of September) intersecting with the 20-day moving average.

The upward reversal from this support zone stopped the previous short-term correction ii.

Given the clear daily uptrend, Nasdaq-100 index can be expected to rise further to the next resistance level 20340.00, high of the previous impulse wave i.

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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