• Nasdaq 100 reversed from key support level 15600,00
• Likely to rise to resistance level 16470,00
Nasdaq 100 index continues to rise inside the short-term upward impulse wave 3, which recently reversed up from the key support level 15600,00 (which stopped the price with the daily Piercing Line at the start of this month, as can be seen from the Nasdaq 100 chart below) – intersecting with the lower daily Bollinger Band and by the 50% Fibonacci correction of the sharp upward impulse 1 from the start of October.
Given the clear daily uptrend, Nasdaq 100 can be expected to rise further toward the next major resistance level 16470,00 (which has been reversing the price from the start of November).
