Technical analysis

Nasdaq-100 Wave Analysis 9 December 2023

– Nasdaq-100 broke resistance level 16000.00

– Likely to rise to resistance level 16500.00

Nasdaq-100 index recently under the bullish pressure after the price broke above the round resistance level 16000.00, which stopped the weekly uptrend earlier this year, as can be seen below.

The breakout of the resistance level 16000.00 accelerated the active intermediate impulse wave (3) .

Given the strong uptrend from the start of this year, Nasdaq-100 index can be expected to rise further to the next resistance level 16500.00 (which started the weekly downtrend at the end of 2021).

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